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Index Outlook For 8/4/20

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Benchmark indices on April 7th posted strong gains after two consecutive sessions of losses.

The market opened with a strong gap on the upside which fuelled a 2500-point rally in the Sensex, and the Nifty50 reclaimed 8,800 levels in intraday trade.

Eventually, Sensex closed 2,476 points or 8.97 percent higher at 30,067.21 while Nifty settled 708 points or 8.76 percent up at 8,792.20.


It was a broad-based rally as all pockets managed to rebound sharply, especially recent beaten down spaces like private banks and auto counters.

Nifty Intraday Levels for 8th April

RESISTANCE 1 – 8965
RESISTANCE 2 – 9019
RESISTANCE 3 – 9105

SUPPORT 1 – 8714
SUPPORT 2 – 8640
SUPPORT 3 – 8570

Bank Nifty Intraday Levels for 8th April

RESISTANCE 1 – 19365
RESISTANCE 2 – 19523
RESISTANCE 3 – 19660

SUPPORT 1 – 18881
SUPPORT 2 – 18730
SUPPORT 3 – 18564

Note – levels will change subject to Gap Up or Gap Down Opening.

 

Thanks!

ProCapitas Market-Pro Team

 

 

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