The 5 day rally has a very strong supporter at 38830/11475 levels. While it is very difficult to ascertain the upside from the current levels, any meaningful downside will start only with a close below 38830/11475.
If you're a conservative trader, stick to stock-specific opportunities - rather than take a directional call on the Indices.
Aggressive traders can hold on to their existing shorts, but add fresh shorts only with a close below these levels.
| Date | 28-Aug-20 | |
| Index | Sensex | Nifty |
| S2 | 39,010 | 11,529 |
| S1 | 39,047 | 11,540 |
| Previous Close | 39,113.47 | 11,559.25 |
| R1 | 39,149 | 11,570 |
| R2 | 39,187 | 11,581 |
| Fair Value | 28,723 | 8,489 |
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