IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.29% gain at 24770 level yesterday. Banking index underperformed the benchmark index as it closed with 0.23% cut at 50686 level.

* India VIX closed with 3.53% cut at 13.33 level.

* Among Sectors NIFTYFMCG and NIFTYPHARMA index outperformed the benchmark index as they closed with 1.4% and 0.9% gains respectively while NIFTYREALTY index underperformed as it closed with 1.3% cut.

* Broader market performed better than the benchmark index as both MIDCAP and SMALLCAP index closed with 0.3% and 1.2% gains 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 higher yesterday. However Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile on weekly expiry today. Index has support at 24650 - 24600 level and resistance at 24900 - 24950 level.

* Banking index is likely to trade in line with the benchmark index today with support at 50200 - 50000 level and resistance at 51200 - 51400 level.

* KOTAKBANK closed with bullish candlestick pattern and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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

SEBI Registration Number : INZ000043833