Market Data

Tuesday, August 9, 2022

The Sensex Outlook for the Day - 10-08-2022

The markets continue to move higher, especially the BANKNIFTY. I continue to stick my neck out and keep a neutral view on the BANKNIFTY and a SHORT view on the NIFTY. 

 

Some amount of profit-booking/volatile consolidation will be good for the medium-term health of the rally.

 

Whether you are an aggressive or a conservative trader, you’re better-off with a stock-specific trading approach in the markets.

 

Our trading positions continue to be a mix of Hedged NIFTY Shorts and Stock Specific Longs.

 

 

10 Aug 22

Index

Sensex

Nifty

BankNifty

S2

                  58,685

           17,475

                 37,985

S1

                  58,766

           17,499

                 38,074

Previous Close

             58,853.07

      17,525.10

            38,237.40

R1

                  58,935

           17,549

                 38,302

R2

                  59,226

           17,636

                 38,886

 

 

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