Tracking the indices is ultimately tracking the levels & as long as the markets are trading above 37576 / 11138, I'm neutral (not bearish) on the indices. But, expecting to see the markets consolidate / try to find the new anchor points from where they could move higher or lower. Its better to be cautious on the Sensex and Nifty and shift to stock specific trades for now.
| Index Levels | ||
| Date | 26-Sep-19 | |
| Index | Sensex | Nifty |
| S2 | 38,287 | 11,349 |
| S1 | 38,511 | 11,416 |
| Previous Close | 38,593.52 | 11,440.20 |
| R1 | 38,699 | 11,471 |
| R2 | 38,731 | 11,481 |
| Fair Value | 29,854 | 8,850 |
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