The markets closed marginally lower than the supports given here on Friday - 54905/16444/34680.
Again, we are looking at a gap-down opening. However, the key now is a close above 54287/16247/33715. If the markets manage to hold on to these levels for the next 2 days, then it would be safe to conclude that the price correction is probably over for now.
However, the targets of 18000/40000 and like are in the cold storage for now. It’s purely stock specific action for the next few months.
9 May 22 | ||
Index | Sensex | Nifty |
S2 | 54,151 | 16,206 |
S1 | 54,587 | 16,337 |
Previous Close | 54,835.58 | 16,411.25 |
R1 | 55,070 | 16,481 |
R2 | 55,234 | 16,531 |
Fair Value | 51,037 | 15,274 |
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