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Index Outlook For 11th May 20

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The Nifty50 fell nearly 6.2 percent during last week, Nifty Smallcap and Midcap indices were down 4-5 percent.

This week, the market will first react to ICICI Bank's numbers on May 11 (Monday). But overall, it is expected to remain volatile with negative bias.

Although IIP and inflation numbers are not expected to surprise the market in any way, investors will be looking out for any silver lining in the commentary. Market rallies do not look sustainable and volatility is likely to rule the markets. Investors will also take cues from any reduction in the number of infections.

Nifty Future Intraday Level

Resistance 1 9249
Resistance 2 9294
Resistance 3 9532

Support 1 – 9202
Support 2 – 9182
Support 3 – 9141

Bank Nifty Future Intraday Level

Resistance 1 19302
Resistance 2 19533
Resistance 3 19784

Support 1 19176
Support 2 18998
Support 3 18763

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

Thanks!

ProCapitas Market-Pro Team

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