Market Data

Monday, April 25, 2022

The Sensex Outlook for 25-04-2022

No matter what the domestic naysayers or the global cues say, I stick my neck out with an aggressive buy on dips for the NIFTY & the BANKNIFTY.

 

The NIFTY will trade in the broad range of 17020 (16820 if you’re a conservative trader) and 17517 for now and the BANKNIFTY – 35778 to 36457. My bullish view will be negated only if the respective indices trade below the lower range for 2 consecutive trading sessions. Similarly, if they manage to hold on to the upper levels for a day or two – we will move towards newer highs in the months, if not weeks to come.

 

Conservative traders are better-off sticking to stock-specific opportunities because, the indices will be volatile – while going up as well as while trending lower.

 

My target for the BANKNIFTY is ~50000 in the current FY – that should make the stock selection for conservative traders relatively easier.

 

25 Apr 22

Index

Sensex

Nifty

S2

                  56,989

           17,110

S1

                  57,135

           17,153

Previous Close

             57,197.15

      17,171.95

R1

                  57,234

           17,183

R2

                  57,341

           17,215

Fair Value

                  49,186

           14,767

 

 

 

 

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