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Index Outlook For 5th June 20

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After six consecutive days of gains, the Indian market witnessed profit booking with Nifty closing in the red on June 4.

Nifty witnessed profit taking above 10,100 for the second day in a row.

The Nifty settled 32 points, or 0.32 percent, lower at 10,029.10. Nifty Private Bank index fell 3.10 percent, followed by Nifty Financial Service (down 2.64 percent), Nifty Bank (down 2.63 percent), and Nifty Realty (down 1.74 percent). All other sectoral indices closed in the green.

This pause is largely on the expected lines and we may see further consolidation ahead. However, the Nifty could make another attempt to test 10,250 or maybe go down further.

Nifty Future Intraday Level

Resistance 1 – 10055
Resistance 2 – 10083
Resistance 3 – 10113

Support 1 – 9990
Support 2 – 9962
Support 3 – 9935

Bank Nifty Future Intraday Level

Resistance 1 – 20437
Resistance 2 – 20598
Resistance 3 – 20745

Support 1 – 20242
Support 2 – 20124
Support 3 – 19955

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

Thanks!

ProCapitas Market-Pro Team

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