A small rally/bounce from the current levels cannot be ruled out. The downward targets given in this column still stand, but the bears will probably take a break for a bit.
Do not get carried away with the rally/bounce back - if at all it happens.
| Index Levels to Watch & Fair Value | ||
| Date | 31-Jul-19 | |
| Index | Sensex | Nifty |
| S2 | 36,909 | 10,941 |
| S1 | 37,142 | 11,010 |
| Previous Close | 37,397.24 | 11,085.40 |
| R1 | 37,494 | 11,114 |
| R2 | 37,523 | 11,123 |
| Fair Value | 29,160 | 8,644 |
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