The Sensex made the day high at the same level as it did on Friday ~39023.
The best case scenario for the markets is consolidation in the 38670-39000 band.
Traders can play this range and investors can wait before looking at value buys/ bottom fishing.
The market bottom is yet to come.
| Index Levels to Watch & Fair Value | ||
| Date | 16-Jul-19 | |
| Index | Sensex | Nifty |
| S2 | 38,843 | 11,572 |
| S1 | 38,872 | 11,581 |
| Previous Close | 38,896.71 | 11,588.35 |
| R1 | 38,979 | 11,613 |
| R2 | 39,024 | 11,626 |
| Fair Value | 28,831 | 8,590 |
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