The near term tops of the markets are in place at 39426/11714. We could consolidate a bit around the current levels, attempting to breach the tops. The longer the consolidation phase lasts, the more vicious would be the correction that will follow. On a broader note, continue to remain short on the indices. However, both way intraday opportunities will do present themselves every now and then. And stock-specific opportunities also exist.
| Index Levels | ||
| Date | 23-Oct-19 | |
| Index | Sensex | Nifty |
| S2 | 38,815 | 11,544 |
| S1 | 38,884 | 11,565 |
| Previous Close | 38,963.84 | 11,588.35 |
| R1 | 39,075 | 11,621 |
| R2 | 39,105 | 11,630 |
| Fair Value | 29,938 | 8,904 |
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