The Sensex Outlook for 09-February-2022.

The market outlook for the extreme short term hasn't changed much from yesterday.

 

Below the levels of 58600/17500, the markets face the risk of breaking their December 2021 lows - however there seems to be a consolidation range in the making, in the 17000-17300 band.

 

Conservative traders need to stay away from taking any index positions till 58600/17500.

 

Aggressive traders can continue adding longs with a closing SL below 57059/17044/37319.

 

A Stock-Specific approach along with hedged longs on the NIFTY/BANKNIFTY should be the way going forward.

 

	9 Feb 22
Index	Sensex	Nifty
S2	57,492	17,175
S1	57,598	17,206
Previous Close	57,808.58	17,266.75
R1	57,926	17,306
R2	58,137	17,368

 

 

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