Market Outlook - Friday April 5,2019 - Share India Securities Ltd

"Markets extended yesterday's weakness as Nifty dipped below 11600 amid profit booking at higher levels. It ended the day at 11598, down 46 points. From yesterday's high of 11760, the index lost almost 200 points as corrective pressure built up further. The index touched the short trend channel line which acts as minor support level. Having lost over 200 points from yesterday's high, it looks like that the index could see a minor pull back tomorrow but overall the bias could remain neutral to negative. On the higher side, 11670 is immediate resistance. Above that 11700 is next resistance. 11570 is strong support. On violation the index could slip towards 11500 as well" - Mr Abhinav Gupta, President, Capital Markets, Share India Securities Ltd.

Market Strategies

NIFTY - 11598

Sup 11570-11500 / Res 11670-11700

BANKNIFTY - 29905

Sup 29750-29600 / Res 30200-30350

Source : Equity Bulls

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