Market Outllook of 23rd Apr, 2018.

Nifty index remained in a broader range and witnessed recovery from 10520 zones to close on a flattish note.

It formed a Doji candle with long lower shadow which indicates that decline is being bought as it got stuck in range ahead of the expiry week.

Index has been making higher highs – higher lows on weekly chart which suggests continuation of uptrend till any immediate support is not broken decisively.

Now till it remains above 10480 – 10500 zones, it has potential to move towards 10630 then 10700 levels.

* This material is for information purposes only and should not be constructed as an offer or solicitation of an offer to buy or sell any securities.

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