NIFTY OUTLOOK & LIVE TRADING TIPS FOR 28 APRIL 2023

OR FILL THE FORM VISIT https://niftytipsniftylevels.blogspot.com/p/enter-mobile-number-for-2-days-trial.html

The domestic market is gradually moving towards positive territory, supported by inflows from FIIs and positive Q4 earnings from banks. Globally, Q1 US GDP figures to be released today are expected to weaken on a QoQ basis on concerns of banking sector contagion and a slowing economy. Fed policy over the next few weeks will be closely monitored. The Fed could continue to rise 25 basis points but the expectation is that this will mark the peak and a long pause. Benchmark indices closed higher with Nifty above 17900 on April F&O expiration. To finish, the Sensex was up 348 points, to 60649 and the Nifty was up 101 points, to 17915. The short-term trend of the market remains positive. The Nifty is now reaching the key resistance at 18000  in the near term. There is a possibility of a minor consolidation move on the highs before a decisive breakout to the upside shows in the near term. Immediate support for the Nifty 50 Index stands at 17800.

Resistance: 17400, 17500, 17600  

Support: 17300, 17200, 17100

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