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Index Outlook For 14th May 20

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A big-bang announcement of Rs 20 lakh crore stimulus by Prime Minister Narendra Modi lifted market sentiment on May 13 as the Sensex and the Nifty closed 2 percent higher each.

The Finance Minister announced the first tranche of the mega stimulus package on May 13 and said that the remaining details of the Rs 20 lakh crore stimulus package will be disclosed in the next few days.

The Indian equity market may trade in positive territory on May 14, supported by select pockets such as PSU banks and NBFCs after the Finance Minister Nirmala Sitharaman's announcement regarding the NBFCs, MSMEs and real estate.

Nifty Future Intraday Level

Resistance 1 – 9442
Resistance 2 – 9490
Resistance 3 – 9534

Support 1 – 9375
Support 2 – 9317
Support 3 – 9265

Bank Nifty Future Intraday Level

Resistance 1 – 19752
Resistance 2 – 19965
Resistance 3 – 20210

Support 1 – 19507
Support 2 – 19310
Support 3 – 19096

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

Thanks!

ProCapitas Market-Pro Team

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