Market Data

Friday, February 4, 2022

The Sensex Outlook for 04-February-2022.

Since the lows of 24th January, I had maintained the view that below 17500, the markets are at the risk of touching the December 2021 lows & that conservative traders should stay away from Index longs till the markets close above 17500/17520 levels for 2 days in a row.

 

For the first 2 days out of the last 3 days, the markets did close substantially above 17500 and then corrected yesterday to still close above 17500.

 

In a sense, with yesterday's fall the markets have recalibrated themselves for bigger targets in the days to come. We added NIFTY longs at the fag end of yesterday's session.

 

4 Feb 22

Index

Sensex

Nifty

S2

                  58,442

           17,454

S1

                  58,654

           17,511

Previous Close

             58,788.02

      17,560.20

R1

                  59,000

           17,618

R2

                  59,106

           17,646

 

 

 

 

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