Market Data

Sunday, February 6, 2022

The Sensex Outlook for 07-February-2022.

The markets had a decent run last week but couldn't sustain the weekly highs and closed barely above the 58600/17500 mark. This level of 17500/58600 remains the Line of Control between the Bulls and the Bears.

 

Going forward, we could possibly see some prolonged consolidation around the current levels before the markets make the next move, which should be Upwards only.

 

With the budget behind us and a lull in the domestic news flow for now, we are again at the mercy of the Global cues and FII action – in such a situation, a Stock-Specific approach along with hedged longs on the NIFTY/BANKNIFTY should be the way going forward.

 

7 Feb 22

Index

Sensex

Nifty

S2

                  58,413

           17,447

S1

                  58,447

           17,463

Previous Close

             58,644.82

      17,516.30

R1

                  58,678

           17,532

R2

                  58,695

           17,540

Fair Value

                  46,453

           13,875

 

 

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