While the trend for the markets remains clearly down for the target of ~36600/10800, a bounce led by Banks cannot be ruled out.
Book some profits in your NIFTY shorts and add more of BANKNIFTY longs.
The nearterm downtrend will be negated only with a close above 38290/11315.
| Date | 24-Sep-20 | |
| Index | Sensex | Nifty |
| S2 | 37,313 | 11,027 |
| S1 | 37,594 | 11,110 |
| Previous Close | 37,668.42 | 11,131.85 |
| R1 | 37,707 | 11,143 |
| R2 | 38,140 | 11,110 |
| Fair Value | 28,581 | 8,325 |
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