Within the overall downtrend, the markets are looking oversold at the current levels and a bounce cannot be ruled out. Having said that, the markets do face heavy resistance at
37752 (11192). So the best case for today would be to consolidate around 37600 (11150) before making the next down move in some days. The near term trend will turn positive only after 37900 (11236) is taken out convincingly.
| Index Levels | ||
| Date | 9-Oct-19 | |
| Index | Sensex | Nifty |
| S2 | 37,441 | 11,099 |
| S1 | 37,505 | 11,118 |
| Previous Close | 37,531.98 | 11,126.40 |
| R1 | 37,579 | 11,140 |
| R2 | 37,644 | 11,160 |
| Fair Value | 29,749 | 8,819 |
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