IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday before closing with 0.05% gain at 19398 level. Banking index underperformed the benchmark index as it closed with 0.33% cut at 45152 level.

* India VIX closed with 1.56% gain at 11.88 level.

* Among Sectors FMCG index outperformed the benchmark index as it closed with 1.82% gain while FINNIFTY index underperformed as it closed with 0.82% cut.

* Broader market outperformed the benchmark index as MIDCAP index and SMALLCAP index closed with 0.68% and 0.62% gains respectively.

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

* European markets (DAX) and US markets (DJIA) closed lower yesterday. Asian Markets are largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 19250 - 19200 level and resistance at 19500 – 19550 level

* Banking index is likely to trade in line with the benchmark index today with support at 44800 - 44600 level and resistance at 45400 - 45600 level.

* ZYDUSLIFE has closed above 21EMA with bullish candlestick and it is likely to trade with positive bias today as well.

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 Disclaimer