The market action yesterday was completely in-line with the outlook given. The markets opened with a lot of euphoria and also cheered the election results, but the Sensex still closed almost 1300 points down from the day's high.
Going forward, expect the markets to consolidate with a negative bias before heading towards the near term targets of 36300/10900.
| Date | 24-May-19 | |
| Index | Sensex | Nifty |
| S2 | 38,491 | 11,561 |
| S1 | 38,652 | 11,609 |
| Previous Close | 38,811.39 | 11,657.05 |
| R1 | 38,835 | 11,664 |
| R2 | 38,911 | 11,687 |
| Fair Value | 28,368 | 8,521 |
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