The Sensex Outlook for the Week Starting 01-02-2021

After losing more than 3% last month, we begin February 2021 with the Union Budget presentation.

The correction/downslide which started from the All Time High levels is still in its infancy - we are no track for even lower levels going forward into February.

For today, expect the markets to break 46160/13600.The targets for February will be closer to 43656/12860.

The market outlook will change for the positive only with a close above 47317/13938 - traders can aggressively short the NIFTY with a SL at this level.

Date	1 Feb 21
Index	Sensex	Nifty
S2	45,706	13,463
S1	46,160	13,598
Previous Close	46,285.77	13,634.60
R1	46,482	13,692
R2	46,623	13,734
Fair Value	30,689	9,040

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