Market Outlook of 27th Apr, 2018.

Nifty still trading range; index closes at the top edge of the range; a move above 10640 should signal more upside; bearish below 10510.

Nifty index remained range bound for most part of the day and then witnesses buying in the last half an hour of the session to extend its move towards 10630.

Index is finding multiple supports in the 10500-10550 zones since last 8 trading sessions. Now, it has to continue to hold above 10550 to extend its move towards the 10707-10736 while next major support exists at the 10500.

Nifty closed April series with a gain of around 5% and moved from 10100 to 10600.

Bank nifty opened flat but managed to respect its support at 24750 and then headed towards the 25000-25100 zones. Now, it has to hold above 25100 to extend its move towards 25250 and then 25400 while supports are seen at 24850 and then 24500.

Bank Nifty closed April series with a gain of 3.08% and remained an underperformer compared with the Nifty index.

 * 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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