The markets are now at the dream levels of 37000/10900 - the levels we have talked about a lot in the past on this column.
The levels also mark the top for the markets - short term frenzy may take the indices a few notches higher, but the trend will now favour the bears.
We initiated shorts on the NIFTY towards the fag end of Thursday's trade, followed by more shorts on Friday which will continue to hold / add on to, for the initial targets of 10500 in the coming days.
We continue to hold stock-specific long positions as well as shorts
| Date | 20-Jul-20 | |
| Index | Sensex | Nifty |
| S2 | 36,886 | 10,862 |
| S1 | 36,920 | 10,872 |
| Previous Close | 37,020.14 | 10,901.70 |
| R1 | 37,126 | 10,933 |
| R2 | 37,238 | 10,966 |
| Fair Value | 31,276 | 9,210 |
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