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Index Outlook For 06/May/20

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Benchmark indices closed in the red on May 5 due to profit-booking with the Nifty settling 88 points lower at 9,205.60.

Sentiment continues to remain weak on the back of high valuations, profit-booking, weak results announced so far and no stimulus announcement by Government till now. Rating agency ICRA estimated that India's GDP might contract by as much as 20 percent in the June quarter and is expected to close 2020-21 down by up to 2 percent

Nifty Future Intraday Level

Resistance 1 – 9252
Resistance 2 – 9294
Resistance 3 – 9338

Support 1 – 9198
Support 2 – 9148
Support 3 – 9108

Bank Nifty Future Intraday Level

Resistance 1 – 19353
Resistance 2 – 19516
Resistance 3 – 19723

Support 1 19067
Support 2 18898
Support 3 18667

Note – Levels will subject to Gap up and Gap Down Opening.

Thanks!

ProCapitas Market-Pro Team

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