Market Data

Sunday, March 21, 2021

The Sensex Outlook for the Week Starting 22-03-2021

As given in this column on Friday - "Conservative traders can continue to look at stock specific long opportunities or wait for 48554/14362 to initiate NIFTY longs.", we have added long positions on the NIFTY.

Keep a trailing SL at 49089/14516 and remain long/add fresh longs for the initial targets of 50352/14890.

In the previous week, the markets broke key levels only to bounce back with a vengeance, so aggressive traders can remain long with a short term target of ~52300/15500.

Conservative traders can look at stock specific opportunities or take long trades on the NIFTY with a tight SL and small targets.

Date22 Mar 21
S2 49,644 14,681
S1 49,810 14,730
Previous Close 49,858.24 14,744.00
R1 49,927 14,764
R2 50,004 14,787
Fair Value 30,333 8,970 


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