Market Data

Thursday, April 28, 2022

The Sensex Outlook for 28-04-2022

Yesterday looked like a good day for the markets to rise from a Gap-Down opening but it wasn’t so.

 

We have been down 2 out of 3 days in this week with a net loss of just under ¾ of a % if you look at the SENSEX/NIFTY and BANKNIFTY has been flat all this time, surprisingly.  

 

Global cues/ FII selling is just a ruse – the NIFTY and the BANKNIFTY have been consolidating in a well-defined trading band – 16820-17500 & 35780-36460. This range was given in the start of the week, and it shrunk considerably since then as the upper end kept moving lower.

 

Going forward, the markets remain neutral while in this range with a breakout outside the range setting the trend in the direction of the breakout.

 

Conservative traders can come back to looking at specific stocks.

 

28 Apr 22

Index

Sensex

Nifty

S2

                  56,429

           16,921

S1

                  56,615

           16,977

Previous Close

             56,819.39

      17,038.40

R1

                  56,981

           17,087

R2

                  57,079

           17,116

 

 

 

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