The Sensex just about managed to hold on to 34000 - but the damage has already been done! The region from 33900 - 34050 is a very strong support zone for the markets, however at the same time - 34100+ to especially around ~34150, the Sensex continues to be stuck in a minefield of resistances.
As long as Sensex manages to hold on to 33900, we are barely away from further mayhem in the markets, at the same time - ~34150 is going to be a very tough nut to crack on the upside. Even if the Sensex does manage cross 34150, we have also seen what happens at ~34500, the other major speed-breaker on the upside.
Trade light till the Sensex manages to stabilize around 34100-34150.
Date
| 19-Feb-18 | |
Index
| Sensex | Nifty |
S2
| 33,228 | 10,212 |
S1
| 33,957 | 10,436 |
Previous Close
| 34,010.76 | 10,452.30 |
R1
| 34,057 | 10,467 |
R2
| 34,106 | 10,482 |
Fair Value
| 28,905 | 8,883 |
Devansh @ Raghav's Picks
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