The Sensex Outlook for 04-February-2022.

Since the lows of 24^th 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

 

 

 

 

If you're on Telegram, you can join us here - https://t.me/RaghavsPicksSensexOutlook

If you have any interest in unlisted/Pre IPO shares? Would be keen to assist.

Upstox Demat + Trading account ₹1000 brokerage credit valid for 30 days# Up to ₹20/order on Equity, F&O, Commodity, and Currency ₹0 brokerage* on Mutual Funds and IPO https://upstox.com/open-account/?f=N08Y

By reading this, you are agreeing to the Disclaimer and Exclusion of Liability at   http://www.raghavs-picks.com/disclaimer.JPG