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
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