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Index Outlook For 30/Apr/20

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The indices ended in the green for the third day in a row on April 29 and Nifty settling 172 points higher at 9,553.35.

Expectations of lockdown measures easing and company-specific news about restarting operations gave support to the markets

Nifty is expected to test 9,900-10,000 levels in the next few weeks. Broader participation is increasing which is a positive sign. On the downside, trend support is seen only at 8,900. We expect the broader market to remain positive over the next few weeks.

Nifty Future Intraday Level

Resistance 1 – 9552
Resistance 2 – 9597
Resistance 3 – 9637

Support 1 – 9498
Support 2 – 9463
Support 3 – 9426

Bank Nifty Future Intraday Level

RESISTANCE 1 – 21067
RESISTANCE 2 – 21283
RESISTANCE 3 – 21452

SUPPORT 1 – 20914
SUPPORT 2 – 20764
SUPPORT 3 – 20563

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

Thanks!

ProCapitas Market-Pro Team

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