Market Data

Monday, November 29, 2021

The Sensex Outlook for the Week Starting 29-11-2021

Black Fridays in the Markets are usually followed by Black Mondays.

While I will stick my neck out and say that this is not a downtrend but a correction from the recent highs and the uptrend towards ~62000/19000 remains intact – HOWEVER, if the indices fail to stabilize at the current levels i.e., around ~57100/17000, then we could fall further towards ~55776/16630.

 

We are not even talking about BANKNIFTY till it crosses 36797 or reaches 35705, from the current levels of ~36000.

 

29 Nov 21

Index

Sensex

Nifty

S2

                  56,480

           16,840

S1

                  56,994

           16,993

Previous Close

             57,107.15

      17,026.45

R1

                  57,311

           17,087

R2

                  57,452

           17,129

Fair Value

                  45,505

           13,567

 

 

 

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