Below the levels of 58600/17500, the markets face the risk of breaking their December 2021 lows. Conservative traders need to stay away from taking any index positions till 58600/17500.
Aggressive traders can look at adding longs with a closing SL below 56951/16967/36552.
A Stock-Specific approach along with hedged longs on the NIFTY/BANKNIFTY should be the way going forward.
8 Feb 22
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