The markets recovered very smartly from yesterday's lows - just a tad above the final support levels of 45781/13420 given in this column yesterday.
However, our outlook remains unchanged from yesterday - Unless 46373/13600 is decisively taken out soon, the uptrend will pause/die out soon.
We continue to have short positions on the NIFTY and the BANKNIFTY, and stock-specific long positions. We will relook/exit our shorts only if the markets manage to hold 46400/13610.
Date | 16 Dec 20 |
Index | Sensex | Nifty |
S2 | 46,152 | 13,535 |
S1 | 46,205 | 13,551 |
Previous Close | 46,263.17 | 13,567.85 |
R1 | 46,344 | 13,592 |
R2 | 46,373 | 13,600 |
Fair Value | 29,358 | 8,610 |