Published on 15/09/2021 8:52:09 AM | Source: Monarch Networth Capital Ltd

Banking index outperformed the benchmark index as it closed with 0.39% gain at 36613 level - Monarch Networth Capital

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* Benchmark index closed with minor 0.14% gain at 17380 level. Banking index outperformed the benchmark index as it closed with 0.39% gain at 36613 level.

* India VIX closed with 3.21% cut and closed at 13.58 level

* Among Sectors, MEDIA and PSE indices outperformed the benchmark index as they closed with 14.40% and 1.05% gains while METAL and FMCG underperformed as they closed with 0.50% and 0.30% cut respectively. Broader market outperformed the benchmark index as MIDCAP and SMALLCAP index closed with 1.35% and 0.29% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was higher than 5 day average. FII were net buyers while DII were net sellers in the cash segment

* European markets (DAX) closed with minor gain while US markets (DJIA) closed near day’s low yesterday. Asian markets are largely trading lower today.

NIFTY (Daily) Chart


Intraday Market Outlook

* Benchmark index is likely to trade range bound today with support at 17250 - 17200 level and resistance at 17450 - 17500 level

* Banking index is likely to trade in line with the benchmark index today with support at 36200 - 36000 level and resistance at 36900- 37150 level

* HCLTECH closed with bullish candlestick formation above 21 EMA. Stock is likely to continue its upside momentum today as well

BANK NIFTY (Daily) Chart


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