The markets need to move out of the 37769-38245 (11083-11223) band before making a clear up or down move. Within this range, the markets are in a state of indecisiveness and can move either way.
However, I expect them to move in the lower direction.
We continue to hold NIFTY shorts with no SL at the moment.
In stocks, we have an almost equal number of longs as well as shorts - which we will carry over into the August series.
| Date | 28-Jul-20 | |
| Index | Sensex | Nifty |
| S2 | 37,602 | 11,034 |
| S1 | 37,752 | 11,078 |
| Previous Close | 37,934.73 | 11,131.80 |
| R1 | 38,000 | 11,151 |
| R2 | 38,022 | 11,158 |
| Fair Value | 31,171 | 9,147 |
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