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Index Outlook

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We have seen a little break from touching lower lows in the index from past few trading sessions due to Govt and RBI policy but it's seems to be a temporary effect and the Index will remain in the bearish zone for the coming few months.

But FIIs and DIIs are having contradictory positions on the index currently. This means what index futures DII's have net purchased were sold largely by FII's and the proprietary brokers.

Now, will there be any corona effect on the index in upcoming sessions?

In the upcoming sessions if the number of positive corona cases increases, it will drag the index to a new bottom.

Levels for Monday i.e. 30th March

Nifty Futures

CMP – 8651

 

Resistance 1 – 8748

Resistance 2 – 8798

Resistance 3 – 8871

 

Support 1 – 8604

Support 2 – 8547

Support 3 – 8496

 

Bank Nifty Futures

CMP – 19778

 

Resistance 1 – 20054

Resistance 2 – 20259

Resistance 3 – 20443

 

Support 1 – 19497

Support 2 – 19281

Support 3 – 19136

 

NOTE – Levels may change subject to Gap up or Gap down Opening tomorrow.

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