Market Outlook of 8th May, 2018.

Nifty bounced back from 10600 support zones; closed higher by almost 1% but still trading below 10800 resistances.

Nifty index opened positive and sustained buying was seen throughout the session.

As long as it holds above 10680, it can extend rally towards 10780-10800 while below 10680 it could find support near to 10638 then 10600.

India VIX rose 2.94% to 13.64.

Bank Nifty continued to move up towards 25900. It closes higher high formation on the seventh session also.

As long as it holds above 25750, it can extend its move towards 26000 then 26100-26250 while supports are seen at 25750 then 25500.

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

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