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Index Outlook For 1st June 20

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The Nifty50 rose 6 percent last week backed by positive global cues amid stimulus in China and European nations along with a roaring rally in banking and financials, breaking the three-week losing streak.

On Monday, the market will first react to Q4 FY20 Gross Domestic Product (GDP) data, the downward revision of data of the last three quarters, and the lockdown extension on June 1.

FII inflow was strong in the week gone by, with net buying at over Rs 8,000 crore including the Bharti Airtel stake sale deal.

Nifty Future Intraday Level

Resistance 1 – 9501
Resistance 2 – 9531
Resistance 3 – 9557
Resistance 4 – 9592

Support 1 – 9465
Support 2 – 9425
Support 3 – 9393
Support 4 – 9365

Bank Nifty Future Intraday Level

Resistance 1 – 19127
Resistance 2 – 19255
Resistance 3 – 19398

Support 1 – 18922
Support 2 – 18809
Support 3 – 18678

Note – Levels will subject to Gap up and Gap down opening.

Thanks!

ProCapitas Market-Pro Team

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