Market Data

Sunday, November 7, 2021

The Sensex Outlook for the Week Starting 08-11-2021

Last week the bulls made a somewhat stellar come-back, on low volumes nevertheless (the average weekly volumes were dented due to the Mahurat trading token low volumes).

 

Going forward, expect the markets to consolidate above 60000/17900/39600 before heading towards ~60300/18300/40000 with supports at 59815/17842/39470.

 

For a short-to-medium term horizon, we can look at the targets of ~65300/19500/42900 if we are trading above 56875/16965/38000.

 

Traders can and should look at a mix of stock-specific and NIFTY/BANKNIFTY trades for optimal returns.

 

8 Nov 21

Index

Sensex

Nifty

S2

                  59,969

           17,885

S1

                  60,011

           17,898

Previous Close

             60,067.62

      17,916.80

R1

                  60,096

           17,923

R2

                  60,208

           17,956

Fair Value

                  42,871

           12,786

 

 

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