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Index Outlook For 28/Apr/20

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Indian markets extended gains after the Reserve Bank of India (RBI) announced a special liquidity facility of Rs 50,000 crore for mutual funds to calm investors jittery after the Franklin Templeton fiasco.

The Nifty settled 128 points, or 1.40 percent, up at 9,282.30.

On the domestic front, all eyes will be on earnings announcements and news related to the coronavirus pandemic. Meanwhile, monthly derivatives expiry could further add to the volatility. On the global front, the Fed meeting (April 28-29th) would be on investors' radar as an update with respect to its recent actions to combat COVID-19, as well as economic Outlook.

Nifty Future Intraday Level

RESISTANCE 1 – 9326
RESISTANCE 2 – 9351
RESISTANCE 3 – 9371

SUPPORT 1 – 9284
SUPPORT 2 – 9264
SUPPORT 3 – 9230

Bank Nifty Future Intraday Level

RESISTANCE 1 – 20218
RESISTANCE 2 – 20355
RESISTANCE 3 – 20519

SUPPORT 1 – 20044
SUPPORT 2 – 19919
SUPPORT 3 – 19754

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

Thanks!

ProCapitas Market-Pro Team

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