The markets face a huge wall of resistance from 38330 to all the way up to 38500 (11305-11350).
Till the time these levels are conquered on a closing basis, the near term outlook would remain a SELL only.
On the other hand, a close below 38215/11273 will accelerate the move towards 37900/11180 and subsequently 37400/11000.
In stocks, we continue to have aggressive longs as well as shorts.
| Date | 14-Aug-20 | |
| Index | Sensex | Nifty |
| S2 | 38,218 | 11,273 |
| S1 | 38,262 | 11,286 |
| Previous Close | 38,310.49 | 11,300.45 |
| R1 | 38,330 | 11,306 |
| R2 | 38,362 | 11,316 |
| Fair Value | 29,895 | 8,818 |
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