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Index Outlook For 27th May 20

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Benchmark indices failed to hold on to their opening gains on May 26 and ended marginally lower with Nifty settling 10 points lower at 9,029.05.

It is a short week and the focus would remain on the earnings announcements. We feel the upcoming derivatives expiry will keep the participants on their toes. We reiterate our cautious view and suggest keeping a close watch on the banking index for cues.

Nifty Future Intraday Level

Resistance 1 – 9070
Resistance 2 – 9094
Resistance 3 – 9117

Support 1 – 9023
Support 2 – 9005
Support 3 – 8985

Bank Nifty Future Intraday Level

Resistance 1 – 17341
Resistance 2 – 17442
Resistance 3 – 17534

Support 1 – 17245
Support 2 – 17148
Support 3 – 17039

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


Thanks!

ProCapitas Market-Pro Team

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