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Index Outlook For 27/Apr/20

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After two weeks of gains, the bears once again took control of the D-Street in the week ended April 24 amid rising COVID-19 cases and delayed financial stimulus. The Nifty50 lost 1.2 percent.

Other factors that weighed on investor sentiment during the week include the possible extension of lockdown, closure of debt schemes by Franklin Templeton fund, and the sharp fall in the oil prices. However, the volatility cooled off with India VIX falling 8.15 percent from 42.59 to 39.11 levels on a weekly closing basis.

Globally also markets remained in await and watch mode after the recent rally.
Experts expect the rangebound trade to continue in the coming truncated week amid hopes of another stimulus package and global cues.

Nifty Future Intraday Level

RESISTANCE 1 – 9169
RESISTANCE 2 – 9199
RESISTANCE 3 – 9228

SUPPORT 1 – 9119
SUPPORT 2 – 9083
SUPPORT 3 – 9047

Bank Nifty Future Intraday Level

RESISTANCE 1 – 19686
RESISTANCE 2 – 19852
RESISTANCE 3 – 19970

SUPPORT 1 – 19414
SUPPORT 2 – 19246
SUPPORT 3 – 19065

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

Thanks!

ProCapitas Market-Pro Team

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