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Index Outlook For 22/Apr/20

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Unprecedented fall in the Crude Oil prices, weak global cues and muted March quarter earnings dragged the Indian market benchmarks into the red on April 21.

Weak oil demand, due to pandemic and lockdown in countries continues to drag oil prices in negative territory which is impacting the global sentiments.

The Nifty settled 280 points, or 3.03 percent, lower at 8,981.45.

Nifty has closed below the psychological level of 9,000 and 8,821 is the next crucial support and if it gets breached, a sharper fall could ensue. On the upside, 9,091 could offer resistance

Nifty Future Intraday Level

Resistance – 8942
Resistance – 9023
Resistance – 9108

Support 1 – 8823
Support 2 – 8758
Support 3 – 8688

Bank Nifty Future Intraday Level

Resistance 1 – 19348
Resistance 2 – 19587
Resistance 3 – 19768

Support 1 – 19021
Support 2 – 18894
Support 3 – 18623

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

Thanks!

ProCapitas Market-Pro Team


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