Market Data

Sunday, October 31, 2021

The Sensex Outlook for the Week Starting 01-11-2021

The markets are poised precariously at key supports. We have a truncated trading week with Mahurat Trading on Thursday and a holiday on Friday.

A bounce from the current levels cannot be ruled out.

 

For the SENSEX & the NIFTY, supports are at 58955/17567 & 58608/17463 while 60040/17890 will be a resistance zone.

 

BANKNIFTY should fare better than the SENSEX & the NIFTY with a strong support at 39071 and resistance at 39305.

 

It makes more sense to adopt a Stock-Specific approach than to try and do bottom-fishing on the indices.

 

1 Nov 21

Index

Sensex

Nifty

S2

                  58,955

           17,567

S1

                  59,089

           17,607

Previous Close

             59,306.93

      17,671.70

R1

                  59,510

           17,732

R2

                  59,611

           17,763

Fair Value

                  42,777

           12,746

 

 

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