The markets will have a difficult time sustaining the current levels, as already indicated by the early cues from SGX Nifty. Initiate shorts at opening levels, with aSL
SL at 39259/11701. We have a long time before the markets finally bottom out and we will see multiple pull-back's and failed rally's till then.
| Index Levels to Watch & Fair Value | ||
| Date | 17-Jul-19 | |
| Index | Sensex | Nifty |
| S2 | 39,053 | 11,639 |
| S1 | 39,073 | 11,645 |
| Previous Close | 39,131.04 | 11,662.60 |
| R1 | 39,174 | 11,675 |
| R2 | 39,259 | 11,701 |
| Fair Value | 28,883 | 8,608 |
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