Market Data

Monday, November 23, 2020

The Sensex Outlook for the Week Starting 23-11-2020

The rally from the lows of 24th September (36400/10800) is almost ~95% over. 
Market participants and players who believe in symbolism and tokenism will wait for the magical level of 13000 before making the next move. However, it makes sense to book profits in NIFTY long trades and shift to stock-specific positions or staggered buying in NIFTY puts.

For the day, the markets have supports at 43553/12763 and resistance at 44153/12938. A move beyond these levels will set the momentum for the near term in the direction of the move.

Date 23 Nov 20
Index Sensex Nifty
S2            43,788            12,831
S1            43,851            12,850
Previous Close       43,882.25       12,859.05
R1            43,904            12,865
R2            44,013            12,897
Fair Value            29,423              8,622


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