Market Data

Monday, January 24, 2022

The Sensex Outlook for the Week Starting 24-January-2022.

What started on Tuesday looking like mere profit-booking ended the week with a 3.5% cut on both the SENSEX & the NIFTY.

 

While the cut can be attributed largely to global factors, the fact remains that it caught most of us, including "Yours truly', off the guard. The short-term trend turned negative mid-week last week and stabilized only towards the fag-end of Friday. We have added aggressive longs on Friday as well as on Thursday and will continue to add. Even if you are a conservative investor with a slightly medium-term view, this fall is a great opportunity to build on the longs you added a month ago.

 

For now, the markets have supports at 58660/17500 and we could rally upto 60000/17900 before pausing for breath/directions.

 

Keep a closing SL at 58660/17500 and look forward to the Union Budget next week.

 

 

24 Jan 22

Index

Sensex

Nifty

S2

                  58,975

           17,597

S1

                  58,996

           17,604

Previous Close

             59,037.18

      17,617.15

R1

                  59,330

           17,708

R2

                  59,371

           17,721

Fair Value

                  45,322

           13,524

 

 

 

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