The fact that the Sensex didn't violate the level of 33724 tells that the bears are getting tired - however the bulls are already dead tired and there is no coming back for the bulls anytime soon.
Any rise should be used to create fresh shorts, since the markets cannot sustain higher levels.
The outlook will turn positive only after the Sensex manages to close above and sustain 35407.
| Date | 24-Oct-18 | |
| Index | Sensex | Nifty |
| S2 | 33,724 | 10,109 |
| S1 | 33,771 | 10,123 |
| Previous Close | 33,847.23 | 10,146.80 |
| R1 | 33,888 | 10,158 |
| R2 | 33,943 | 10,175 |
| Fair Value | 32,310 | 9,685 |
