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Index Outlook For 23/Apr/20

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Indian equity markets recovered sharply on April 22 on the back of positive global cues and deal between Reliance Jio and Facebook amid a gloomy economic environment.

The Nifty settled 206 points, or 2.29 percent, higher at 9,187.30.

The market is likely to remain volatile and react to earnings, trends in the number of coronavirus cases, crude oil prices, currency movements, and global events. Any announcement from the government with regard to an economic stimulus package could provide some interim relief.

Nifty Future Intraday Level

Resistance 1 – 9224
Resistance 2 – 9276
Resistance 3 – 9334

Support 1 – 9162
Support 2 – 9116
Support 3 – 9056

Bank Nifty Future Intraday Level

Resistance 1 – 19792
Resistance 2 – 20016
Resistance 3 – 20248

Support 1 – 19420
Support 2 – 19277
Support 3 – 19071

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

Thanks!

ProCapitas Market-Pro Team

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