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Index Outlook For 13th May 20

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#Intekal ki Raat

Equity benchmarks closed in the red on May 12, extending losses into the second consecutive session amid weak global cues.

The Sensex closed the day with a loss of 190 points, or 0.60 percent, at 31,371.12 and the Nifty settled 43 points, or 0.46 percent, lower at 9,196.55.

The market is expected to see strong gains on May 13 after the Prime Minister Narendra Modi announced a fiscal stimulus package of Rs 20 lakh crore, aimed at alleviating pain caused by COVID-19.

We can see a huge gap up opening in Nifty but the main question is will it sustain at that level?

Nifty Future Intraday Level

Resistance 1 – 9248
Resistance 2 – 9292
Resistance 3 – 9326

Support 1 – 9202
Support 2 – 9178
Support 3 – 9143

Bank Nifty Future Intraday Level

Resistance 1 – 19002
Resistance 2 – 19323
Resistance 3 – 19554

Support 1 – 18773
Support 2 – 18544
Support 3 – 18362

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

Thanks!

ProCapitas Market-Pro Team

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