The markets topped out at 38989 odd levels last month and have been in a downtrend since then, interspaced by brief and short-lived rallies.
The near term downtrend will not end before we see 35250/10650.Whether we correct further from the levels of 35250/10650 is a question that we will answer when we reach there.
For now, every rally/rise is an opportunity to short the the NIFTY & BANKNIFTY, while looking at selective stock-specific opportunities.
| Date | 25-Sep-18 | |
| Index | Sensex | Nifty |
| S2 | 35,994 | 10,874 |
| S1 | 36,217 | 10,942 |
| Previous Close | 36,305.02 | 10,967.40 |
| R1 | 36,424 | 11,004 |
| R2 | 36,484 | 11,022 |
| Fair Value | 32,134 | 9,708 |
