With the global cues, as they are - expect a Gap-Down opening to our markets as well.
However, I would expect our markets to stabilize around ~35400/10375. A close below these levels will take the markets closer to ~30800/9000.
For the time being, upsides are also capped at ~35900/10520.
While this is no market for investors/value seekers but after today, even traders will need to be extremely cautious - since, after last Friday, we have been totally driven by global cues. And the global cues, in turn, are driven by the economic and political impact of the Corona Virus pandemic.
| Index Levels | ||
| Date | 12-Mar-20 | |
| Index | Sensex | Nifty |
| S2 | 35,660 | 10,448 |
| S1 | 35,677 | 10,452 |
| Previous Close | 35,697.40 | 10,458.40 |
| R1 | 35,794 | 10,487 |
| R2 | 35,908 | 10,520 |
| Fair Value | 34,051 | 9,976 |
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