Sensex – Time to consolidate in a range before setting up a move in July !

After a week or two of irregularity on postings should be able to post daily this week.

Sensex Technical View:

After the strong upmove from the lows of 15960 Sensex reached a high of 17919 which is almost a clean rally of 1900-2000 points.

People with bearish bias would call this corrective while on the other side Bullish would call this a Bear Trap.

For now a pullback to 17300-17500 or lower could be possible as index needs to gain strength before taking a short at new highs in July (time analysis scenario https://nooreshtech.co.in/2010/06/sensex-to-cross-18k-in-july-time-analysis-possibility.html)

So for now on the index its a wait and watch zone and focus on specific stocks.

TATA TEA  - Long term defensive pick.

The stock has finally broken out after 5 years of consolidation.

Investors looking for steady and slow returns should buy on dips closer to 1100 or buy from current levels and SIP for next few months.