Market Data

Tuesday, March 29, 2022

The Sensex Outlook for 29-03-2022

 

Yesterday’s bounce from the lows was the markets respecting the broad range of 17000-17300 in which they are stuck now.

I will repeat what I said yesterday - the chances of going up are higher than going down. However, the real rally will come only after 17380 is comfortably taken out on a closing basis.

 

Aggressive traders can continue to remain long/add fresh longs if 17034 is not broken on a closing basis.

 

BANKNIFTY made the smartest recovery from the day lows, but it needs to close above 35798 to get its mojo back and head towards 37150_37800. Keep a closing SL at 35500 for your BANKNIFTY longs.

 

29 Mar 22

Index

Sensex

Nifty

S2

                  57,352

           17,150

S1

                  57,433

           17,174

Previous Close

             57,593.49

      17,222.00

R1

                  57,809

           17,286

R2

                  57,961

           17,332

 

 

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