The markets face immense resistance around 38200/11250 and may not close above these levels anytime soon.
After tiring themselves trying to cross these levels, the bulls will retire hurt and the bears will take over the reins of the markets.
Hold on to your Index shorts as per your risk appetite and MTM capacity.
In stocks, we continue to have aggressive longs as well as shorts.
| Date | 07-Aug-20 | |
| Index | Sensex | Nifty |
| S2 | 37,905 | 11,165 |
| S1 | 38,001 | 11,193 |
| Previous Close | 38,025.45 | 11,200.15 |
| R1 | 38,036 | 11,203 |
| R2 | 38,221 | 11,258 |
| Fair Value | 30,082 | 8,860 |
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