Next Week Stock Market Overview 9th-April-2018

Stock Market Overview

This week Market movement was on the basis of Domestic and global economic news

  • we saw market falls after china fuel trade war fears by imposing new tariff on US goods by USD 50 million
  • But next day market recovers after RBI kept all key rates unchanged and lowered inflation forecast which added spark in the market.

Next week market is expected to trade in a range (consolidation phase) as

  • We still not claims that bulls are totally having upper hand in the market
  • Still trade war fears are still intact and fresh buying at this point should be avoided
  • There are few crucial resistance that both Bank Nifty and Nifty future has to face
  • Key resistance for Bank Nifty future is 25070-25100 followed by 24370-24400 and Support for the same is 24500
  • For Nifty future 10390 is crucial level followed by 24470-24490 and support for the same is 10265-10290
  • This range is very important as breakout in any direction will attract directional movement in the same side.

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