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Index Outlook

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Benchmark indices have nosedived for the seventh consecutive week ended April 3 amid fears over Novel Coronavirus or COVID-19 pandemic and rating downgrades of banks due to financial concerns over higher NPAs due to the lockdown. Subdued auto sales data for March'20 and rally in the oil prices also affected the market sentiments.

The Nifty fell 576.45 points, or 6.66 percent, to 8,083.80 last week, taking the total seven-week loss to 33 percent.

NIFTY INTRADAY LEVELS

RESISTANCE 1 – 8251
RESISTANCE 2 – 8295
RESISTANCE 3 – 8330

SUPPORT 1 – 8079
SUPPORT 2 – 8022
SUPPORT 3 – 7962

CHANCES OF GAP UP OPENING – APPROX 8150-8200+

BANK NIFTY INTRADAY LEVELS

RESISTANCE 1 – 17882
RESISTANCE 2 – 18043
RESISTANCE 3 – 18228

SUPPORT 1 – 17146
SUPPORT 2 – 16944
SUPPORT 3 – 16767

CHANCES OF GAP UP OPENING

NOTE:
Levels will change subject to Gap up and Gap Down opening


Thanks!

ProCapitas Market-Pro Team 


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