The levels of ~39000/11500 are a near term ceiling for the markets.
These levels may be broken momentarily, but the markets will again revert to the 38340-39000 (11300-11500) trading range.
Expect the BANKNIFTY to outperform the NIFTY on the upside.
We continue to hold stock-specific longs with adding NIFTY Puts at every rise.
| Date | 14-Sep-20 | |
| Index | Sensex | Nifty |
| S2 | 38,667 | 11,409 |
| S1 | 38,712 | 11,422 |
| Previous Close | 38,854.55 | 11,464.45 |
| R1 | 38,979 | 11,501 |
| R2 | 39,205 | 11,568 |
| Fair Value | 28,568 | 8,429 |
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