NIfty Outlook 9th April

As we mentioned in the market outlook dated 7th April that Nifty is overbought and its prudent to book profit on the rise and creating shorts at higher level was also advised.

Yesterday Nifty showed a lot of weakness and heavy profit booking was seen across the counter.

We can see another weak session today.

Level of 5241 is very crucial for Nifty and if this level is maintained then bulls will be in control and we may see some recovery.

Any closing below 5241 will cause more panic selling.

Important Nifty Levels for
Nifty Pivot	5317
Support
5274	5263	5241
Resistance
5334	5368	5397