If we are holding the levels of 56951/16966/34518, the bulls will have an upper hand. However, the real uptick for the markets will come only after a close above 57561/17137/35262.
Contrary to expectations, the BANKNIFTY has lagged the NIFTY. It may so happen that the IT index will further cement its position as the market leader.
Traders are better off with stock-specific bets rather than trying to take a directional view on the indices.
The indices have a well-defined trading range which will breakout only with a close below 55132/16410/34018 or a close above 57561/17137/35262.
27 Dec 21 | ||
Index | Sensex | Nifty |
S2 | 56,813 | 16,909 |
S1 | 56,951 | 16,950 |
Previous Close | 57,124.31 | 17,003.75 |
R1 | 57,187 | 17,020 |
R2 | 57,315 | 17,058 |
Fair Value | 45,011 | 13,398 |
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