While the markets are still trading below key levels including the 200 DMA, as long as they trade above 36600/10850, we can expect that price correction has given way to time correction. Any fall till 36800/10900 can be used to initiate trading longs. However the time to resume investments or bottom fishing hasn't come yet, unless you're a mutual fund investor.
| Index Levels to Watch & Fair Value | ||
| Date | 5-Aug-19 | |
| Index | Sensex | Nifty |
| S2 | 37,034 | 10,972 |
| S1 | 37,085 | 10,988 |
| Previous Close | 37,118.22 | 10,997.35 |
| R1 | 37,185 | 11,017 |
| R2 | 37,206 | 11,023 |
| Fair Value | 29,533 | 8,750 |
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