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NIFTY AND BANK NIFTY OUTLOOK FOR 03/04/2020

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The Indian equity market benchmark Nifty was negative in the last trading session on April 1 amid fears of COVID-19 rapidly deteriorating the country's macroeconomic health.

Experts highlighted that the government's announcement regarding the cut in interest rates of several schemes such as PPF, Kisan Vikas Patra, NSC and small saving certificates indicates that the fiscal deficit will rise significantly and this has made the financial sector vulnerable. Rising coronavirus cases is already keeping markets on tenterhooks.

Nifty Intraday Levels

Resistance 1 – 8390
Resistance 2 – 8468
Resistance 3 – 8529

Support 1 – 8187
Support 2 – 8120
Support 3 – 8080

Bank Nifty Intraday Level

Resistance 1 – 18337
Resistance 2 – 18600
Resistance 3 – 18853

Support 1 – 18020
Support 2 – 17707
Support 3 – 17426

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

Thanks 
ProCapitas Market Pro Team

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