IGI Logo

TECHNICAL OUTLOOK

* Benchmark index closed with 1.07% gain at 18003 level. Banking index outperformed the benchmark index as it closed with 1.61% gain at 38348 level

* India VIX closed with 0.45% minor gain at 17.68 level

* Among Sectors, PSUBANK and MEDIA index outperformed the benchmark index as they closed with 3.23% and 2.25% gains. Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed 0.84% and 1.28% 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 lower yesterday. Asian Markets are largely trading lower today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 17850 - 17750 level and resistance at 18100 - 18200 level.

* Banking index is likely to trade in line with benchmark index today with support at 38000 - 37800 level and resistance at 38700 - 38900 level.

* ADANIENT has closed with bullish candlestick formation with above average volumes. It is likely to continue its positive 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 Disclaimer