The markets are evenly poised between the bulls and the bears. However, with the scales evenly placed, the market direction could change in a flicker; hence Index traders need to be very cautious.
The trading range for the week could be 42347/12471 on the upside and 41589/12247 on the downside.
Stock specific longs along with index puts could be the strategy going forward into the run-up to the F&O expiry & the Union Budget.
| Index Levels | ||
| Date | 20-Jan-20 | |
| Index | Sensex | Nifty |
| S2 | 41,913 | 12,343 |
| S1 | 41,926 | 12,347 |
| Previous Close | 41,945.37 | 12,352.35 |
| R1 | 41,957 | 12,356 |
| R2 | 42,031 | 12,378 |
| Fair Value | 33,504 | 9,866 |
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