Market Data

Monday, April 19, 2021

The Sensex Outlook for the Week Starting 19-04-2021

The fear of the fresh covid wave and the rising cases will keep the markets down initially - however, the underlying trend remains firmly UP. 
The levels of 48515/14523 are the support zones for the near term, while 49145/14711 are the resistances above which we will eventually see a huge short covering induced rally.
Aggressive traders remain long/keep adding to your long positions at falls.
Conservative traders can look at stock-specific opportunities or take long trades on the NIFTY with a tight SL and small targets.  
Date19 Apr 21
IndexSensexNifty
S2 48,694 14,577
S1 48,731 14,588
Previous Close 48,832.03 14,617.85
R1 48,868 14,629
R2 48,892 14,636
Fair Value 30,417 9,105 


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