Market Outlook of 10th Apr, 2018.

Nifty rally continues with Index coming close to first resistance of 10450 target; if breaks most likely it happens then 10600.

Nifty index continued from higher highs for sixth consecutive session  and headed towards 10450. It closed above its 50 day Moving Average on the daily chart.

Nifty short term is in the bullish mode and takes the resistance around 10600 for this month.

India VIX moved up 0.80% to 14.86.

Bank Nifty opened flat, but sustained buying interest was seen for the entire session. It managed to close above 25000 and has been making higher highs – lows from last 4 sessions.

Major resistance level cross and closed, it show bulls are on the upper hand.

As long as it holds above 24750 it can extend its bounce towards 25250 then 25500 and major resistance at 25800 and support exists at 24500.

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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