Market Outlook of 20th Apr, 2018.
GFS Wealth Creators Suggestion and View on Indices.
The index is still trading very choppy & narrow. Prices are finding intraday support at 10495 & resistance at 10600.
Nifty remained in a narrow range for the entire session.
It finally negated its higher highs formation after 14 consecutive trading session.
Now, till it slips below 10480 then only some weakness could be seen while a holds above 10480 could extend its gains towards 10630.
India VIX fell down by 2.55% to 13.75. Nifty Bank opened positive, but failed to cross above its crucial resistance of 25,250.
Now, it has to cross & hold above 25250 zones to extend its more towards 25500 then 25750 while a hold below 25000 could attract weakness towards 24750.
Bank Nifty has been under performing and consolidating in between 25000 and 25400 from last 8 trading sessions, it requires a decisive range breakout to start the next leg to rally.