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Index Outlook for 13/Apr/20

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The Nifty50 climbed nearly 13 percent in the week ended April 9. This was the biggest weekly gain since May 2009 as investors cheered renewed FII buying interest and receding number of coronavirus cases across the globe.

However, experts are not convinced of the rally and feel that going forward, the market mood will be dictated by news flow around the spread of COVID-19 and extension to the current lockdown rather than March quarter earnings which seem to have already been priced in.

Nifty Intraday Levels

Resistance 1 – 9124
Resistance 2 – 9188
Resistance 3 – 9257
Resistance 4 – 9312

Support 1 – 9028
Support 2 – 8961
Support 3 – 8866
Support 4 – 8796

Bank Nifty Intraday Levels

Resistance 1 – 19867
Resistance 2 – 20097
Resistance 3 – 20254
Resistance 4 – 20570

Support 1 – 19608
Support 2 – 19440
Support 3 – 19233
Support 4 – 19084

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


Thanks!

ProCapitas Market-Pro Team



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