Market Outlook of 16th Apr, 2018.
GFS Wealth Creators Suggestion and View on Indices.
The Nifty index extended its weekly gains for 3 week in a row, a mid choppiness. The index has advanced 149 points or 1.45% last week.
Nifty index opened gap up but witnessed selling at higher levels and corrected towards 10,450.
Index has been making higher highs for last 10 consecutive sessions and if it negates this formation, only then a pause could be seen in the positive momentum. It closed the next week at the crucial 10,480 level.
If it hold, then upward move towards 10,525 than 10,550 while supports are seen at 10,380 than 10,333.
Bank Nifty opened on a positive note but failed to hold above its crucial hurdle at 25,250.
Now, it has to hold & sustain above 25,250 to start the next leg of upward move towards 25,500 than 25,750 , while major supports seen at 25,000 than 24,750.