Benchmark index traded volatile on last day of the July month before closing with 0.10% cut at 15763 level - Monarch Networth Capital
TECHNICAL OUTLOOK
* Benchmark index traded volatile on last day of the July month before closing with 0.10% cut at 15763 level. Banking index lagged the benchmark index as it closed with 0.31% cut at 34584 level
* India VIX closed with 1.16% cut at 12.80 level
* Among Sectors, PHARMA and AUTO index outperformed the benchmark index as they closed with 3.63% and 0.92% gains while METAL and PSUBANK index underperformed as they closed with 0.70% and 0.32% cut respectively. Broader market performed better than the benchmark index as MID cap and SMALL cap index closed with 1.10% and 0.44% gain respectively
* Advance/Decline ratio was in favour of advances and cash turnover was higher than 5 day average. FII were net sellers while DII were net buyers in the cash segment
* European markets (DAX) and US markets (DJIA) closed lower on Friday. However, Asian markets are trading mixed today.
NIFTY (Daily) Chart
Intraday Market Outlook
* Benchmark index is likely to trade in a broad range today with support at 15650 - 15550 level and resistance at 15900 - 16000 level
* Banking index is likely to trade in line with benchmark index today with support at 34300 - 34000 level and resistance at 35000 - 35300 level
* ENDURANCE closed above swing high with bullish candlestick formation above 21 EMA and it is likely to continue its upside momentum today as well
BANK NIFTY (Daily) Chart
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