IGI Logo

TECHNICAL OUTLOOK

* Benchmark index opened on a positive note and traded lower before closing with 0.67% cut at 15635 level. Banking index underperformed the benchmark index as it closed with 0.81% cut at 34801 level

* India VIX closed with 3.15% cut at 14.75 level

* Among Sectors, PSE index outperformed the benchmark index as it closed with 0.31% gain while REALITY and PSU BANK index underperformed as they closed with 1.66% and 1.43% cut. Broader market lagged benchmark index as MID cap and SMALL cap index closed with 0.72% and 1.35% cut respectively

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

* European markets (DAX) and US markets (DJIA) closed lower yesterday. However, Asian markets are trading higher today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile on weekly expiry today with support at 15500 - 15400 level and resistance at 15750 - 15850 level

* Banking index is likely to trade in line with benchmark index today with support at 34400 – 34000 level and resistance at 35200 - 35500 level

* TITAN has closed with bullish candlestick formation above 21 EMA and it is likely to continue its upside momentum today as well

BANK NIFTY (Daily) Chart

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at  https://www.mnclgroup.com/disclaimer

SEBI Registration Number : INZ000043833

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaime