Inspite of the positive announcements by the FM post market on Friday, the short term trend remains down.We will see a gap-up and also possibly a small rally, but do not see any rally sustaining above 37100/10947. Initiate opening longs with a strict SL at 36102 (Friday's Low) / 10650.
Index Levels to Watch & Fair Value
| ||
Date
|
26-Aug-19
| |
Index
|
Sensex
|
Nifty
|
S2
|
36,537
|
10,781
|
S1
|
36,625
|
10,807
|
Previous Close
|
36,701.16
|
10,829.35
|
R1
|
36,745
|
10,842
|
R2
|
36,891
|
10,885
|
Fair Value
|
29,774
|
8,785
|
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