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Index Outlook For 21/Apr/20

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The Indian benchmark indices traded in a tight range and settled almost flat amid mixed cues on April 20.

The Nifty finished five points lower, or down 0.05 percent, at 9,261.85.

We have mixed signals from the local front as of now. The steps, which are taken by the government for lifting the lockdown partially, Reserve Bank of India's measures to stabilise the financial system and projection of a normal monsoon have provided a sentimental boost.
A sharp increase in coronavirus cases is still the major cause of concern.

Nifty Future Intraday Level

Resistance 1 – 9296
Resistance 2 -9366
Resistance 3 – 9422
Resistance 4 – 9488

Support 1 – 9242
Support 2 – 9177
Support 3 – 9124
Support 4 – 9058

Bank Nifty Future Intraday Level

Resistance 1 – 20611
Resistance 2 – 20818
Resistance 3 – 21084

Support 1 – 20369
Support 2 – 20183
Support 3 – 19976
Support 4 – 19833

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

Thanks!

ProCapitas Market-Pro Team

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