Sunday, August 2, 2020

The Sensex Outlook for the Week Starting 03-08-2020

The markets will continue to face strong headwinds at higher levels and will drift lower after attempting to climb higher. The near term target for the markets is 37000/10900. 
Use all up-moves to short the indices with a closing SL at 38310/11280 for the initial targets of 37000/10900.

In stocks, we continue to have aggressive longs as well as stocks.

Date 3-Aug-20
Index Sensex Nifty
S2            37,221            10,960
S1            37,432            11,022
Previous Close       37,606.89       11,073.45
R1            37,645            11,085
R2            37,805            11,132
Fair Value            29,985              8,829


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