The fear of the fresh covid wave and the rising cases will keep the markets down initially - however, the underlying trend remains firmly UP.
The levels of 48515/14523 are the support zones for the near term, while 49145/14711 are the resistances above which we will eventually see a huge short covering induced rally.
Aggressive traders remain long/keep adding to your long positions at falls.
Conservative traders can look at stock-specific opportunities or take long trades on the NIFTY with a tight SL and small targets.
Date | 19 Apr 21 |
Index | Sensex | Nifty |
S2 | 48,694 | 14,577 |
S1 | 48,731 | 14,588 |
Previous Close | 48,832.03 | 14,617.85 |
R1 | 48,868 | 14,629 |
R2 | 48,892 | 14,636 |
Fair Value | 30,417 | 9,105 |