The markets bounced off from their lows on Friday,
but not enough to change the short term trend which remains down only.
The level of 38814 (11576) poses a very strong
but not enough to change the short term trend which remains down only.
The level of 38814 (11576) poses a very strong
resistance. Failure to convincingly cross these levels,
will only leave the doors open for further downside.
Any positive opening/bounce should be used to initiate fresh shorts with a
will only leave the doors open for further downside.
Any positive opening/bounce should be used to initiate fresh shorts with a
SL at 39022 (11640) - ie Friday's Highs.
| Index Levels to Watch & Fair Value | ||
| Date | 15-Jul-19 | |
| Index | Sensex | Nifty |
| S2 | 38,597 | 11,511 |
| S1 | 38,714 | 11,546 |
| Previous Close | 38,736.23 | 11,552.50 |
| R1 | 38,765 | 11,561 |
| R2 | 38,814 | 11,576 |
| Fair Value | 28,876 | 8,612 |
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