The Sensex has made Newer Highs, while the Nifty is yet to. Let the Nifty also satisfy her ego and desire for one-upmanship over the Sensex by making a New High(s). However we will not see a Newer High every day, sooner or later, the markets will commence with the downward spiral.
The Risk-Reward ratio favors shorting the markets. The indices remain a sell on every rise/ each level. Stick to staying in cash or pursue stock-specific opportunities.
| Index Levels | ||
| Date | 5-Nov-19 | |
| Index | Sensex | Nifty |
| S2 | 40,162 | 11,900 |
| S1 | 40,244 | 11,924 |
| Previous Close | 40,301.96 | 11,941.30 |
| R1 | 40,324 | 11,948 |
| R2 | 40,380 | 11,965 |
| Fair Value | 30,394 | 9,006 |
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