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Index Outlook for 17/Apr/20

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Benchmark indices ended in the green on April 16 with the Nifty finishing 68 points up at 8,992.80.

The market would continue to remain volatile as it would track the trend in coronavirus cases and government relief measures to combat the economic crisis due to it.
Earnings season has kicked started, and thus investors would be focusing on the management commentary with regards to the impact of COVID-19 on their respective businesses.

Nifty Intraday Level

Resistance 1 – 9096
Resistance 2 – 9126
Resistance 3 – 9167
Resistance 4 – 9220

Support 1 – 9035
Support 2 – 8997
Support 3 – 8957
Support 4 – 8910

Bank Nifty Intraday Level

Resistance 1 – 19650
Resistance 2 – 19824
Resistance 3 – 19996
Resistance 4 – 20135

Support 1 – 19186
Support 2 – 19077
Support 3 – 18949
Support 4 – 18818

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

Thanks!

ProCapitas Market-Pro Team

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