For a truncated trading week, with the FnO Expiry also included - this week promises to be action packed.
However, the near term trend is clearly downwards.
The near-term targets for the markets are 35550 (10690) followed by ~34400 (~10350) in early January.
There could be intermittent rallies from here to 34400-odd levels, but one need not get fooled by such rallies and build long positions for now.
Hold on to your shorts, initiate fresh shorts and keep booking part profits in the short positions.
| Date | 24-Dec-18 | |
| Index | Sensex | Nifty |
| S2 | 35,655 | 10,727 |
| S1 | 35,695 | 10,738 |
| Previous Close | 35,742.07 | 10,754.00 |
| R1 | 35,821 | 10,776 |
| R2 | 35,863 | 10,789 |
| Fair Value | 31,410 | 9,449 |
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