The Sensex Outlook for the Day 06-05-2021

Index traders tread cautiously. We have significantly scaled down on Index longs and added NIFTY & BANKNIFTY puts of next week's expiry.

Aggressive traders can initiate index shorts and conservative traders can stick to stock-specific positions. We will look at Index longs and the targets of 15000+ only next week.

Date	6 May 21
Index	Sensex	Nifty
S2	48,558	14,582
S1	48,608	14,597
Previous Close	48,677.55	14,617.85
R1	48,722	14,631
R2	48,757	14,642
Fair Value	33,321	10,006

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