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Index Outlook For 18th May 20

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Indian markets witnessed a volatile week falling over a percent with the resurgence of trade tensions between the US and China, rising cases of COVID-19, and an uninspiring Rs 20 lakh crore stimulus package.

The Nifty50 was down 1.2 percent

We feel that the volatility in the market is likely to continue and the mood could largely be in favor of the bears.

Nifty Future Intraday Level

Resistance 1 – 9140
Resistance 2 – 9185
Resistance 3 – 9220

Support 1 – 9090
Support 2 – 9050
Support 3 – 9010

Bank Nifty Future Intraday Level

Resistance 1 – 18915
Resistance 2 – 19085
Resistance 3 – 19205

Support 1 – 18710
Support 2 – 18540
Support 3 – 18340

Note – Level may subject to Gap up and Gap Down Opening

Thanks!

ProCapitas Market-Pro Team

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