Till the time, the levels of 57981/17269 are not taken out convincingly, expect the markets to consolidate in the 57090/17000 – 57627/17163 band.
While the downside looks limited, the upside may remain capped due to volatility / news flow regarding the virus and its strains.
The BANKNIFTY needs to cross 36307 and respect yesterday's low of 35328 for any meaningful base formation.
Having a stock specific approach will be a good strategy for now.
30 Nov 21 | ||
Index | Sensex | Nifty |
S2 | 57,090 | 17,001 |
S1 | 57,174 | 17,026 |
Previous Close | 57,260.58 | 17,053.95 |
R1 | 57,627 | 17,161 |
R2 | 57,716 | 17,188 |
Fair Value | 45,593 | 13,577 |
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