The Sensex Outlook for 17-08-2022
Raghvendra N Dhoot
The BANKNIFTY showed signs of faltering yesterday - if it manages to stay below 39356, the weakness will be confirmed.
Since the NIFTY has been piggy-backing on the BANKNIFTY for the last few days, any weakness in the BANKNIFTY will have a devastating effect on the NIFTY.
We will take a fresh positive view on the indices only if 39356/17893 is taken out convincingly, till then we are sticking to stock-specific positions only.
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17 Aug 22 |
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Index |
Sensex |
Nifty |
BankNifty |
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S2 |
59,674 |
17,775 |
39,054 |
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S1 |
59,813 |
17,817 |
39,120 |
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Previous Close |
59,842.21 |
17,825.25 |
39,239.65 |
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R1 |
59,923 |
17,849 |
39,268 |
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R2 |
60,068 |
17,893 |
39,445 |
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