Published on 17/09/2021 10:53:03 AM
Intraday Market Outlook
* Benchmark index is likely to trade with positive bias today with support at 17550 - 17500 level and resistance at 17750 - 17800 level
* Banking index is likely to trade in line with the benchmark index today with support at 37400 - 37150 level and resistance at 38100 - 38300 level
* ICICIBANK has closed above 21 EMA and it is likely to continue its upside momentum today as well
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SEBI Registration Number : INZ000043833
Published on 17/09/2021 10:52:31 AM
TECHNICAL OUTLOOK
* Benchmark index opened on a positive note and traded higher before closing with 0.63% gain at 17630 level. Banking index outperformed the benchmark index as it closed with 2.22% gain at 37669 level.
* India VIX closed with 4.95% gain and closed at 14.41 level
* Among Sectors, PSUBANK and BANKING indices outperformed the benchmark index as they closed with 5.43% and 2.22% gains while MEDIA and METAL underperformed as they closed with 1.71% and 0.62% cut respectively. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with minor 0.36% and 0.20% 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 higher while US markets (DJIA) closed lower yesterday. However, Asian markets are largely trading higher today.
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Please refer disclaimer at https://www.mnclgroup.com/disclaimer
SEBI Registration Number : INZ000043833
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