The markets are now in a sell/short rise zone till 10800.
We initiated shorts on the NIFTY towards the end of trade yesterday and continue to remain short on the NIFTY for targets of 10550-10500.
The bearish outlook as above will be negated with a close above 36776/10829. Keep a closing SL at these levels for your NIFTY short positions.
We continue to hold stock-specific long positions.
| Date | 17-Jul-20 | |
| Index | Sensex | Nifty |
| S2 | 36,409 | 10,722 |
| S1 | 36,453 | 10,734 |
| Previous Close | 36,471.68 | 10,739.95 |
| R1 | 36,525 | 10,756 |
| R2 | 36,928 | 10,785 |
| Fair Value | 31,292 | 9,215 |
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