The markets are poised precariously at key supports. We have a truncated trading week with Mahurat Trading on Thursday and a holiday on Friday.
A bounce from the current levels cannot be ruled out.
For the SENSEX & the NIFTY, supports are at 58955/17567 & 58608/17463 while 60040/17890 will be a resistance zone.
BANKNIFTY should fare better than the SENSEX & the NIFTY with a strong support at 39071 and resistance at 39305.
It makes more sense to adopt a Stock-Specific approach than to try and do bottom-fishing on the indices.
1 Nov 21
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