IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded on a positive note before closing with 1.73% gain at 16930 level. Banking index traded in line with the benchmark index as it closed with 1.62% gain at 37378 level

* India VIX closed with 6.18% cut at 17.01 level

* Among Sectors, IT and REALTY index outperformed the benchmark index as they closed with 2.81% and 2.07% gains respectively. However, broader market underperformed the benchmark index as MIDCAP and SMALLCAP index closed with 0.84% and 0.85% gain respectively

* Advance/Decline ratio was in favour of Advances and cash turnover was higher than 5-day average. Both FII and DII were net buyers in the cash segment

* Both European markets (DAX) and US markets (DJIA) closed higher yesterday. Asian Markets are also trading with positive bias today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to open gap up on favourable global cues and trade with positive bias today with support at 17000 - 16900 level and resistance at 17200 - 17300 level

* Banking index is likely to trade in line with the benchmark index today with support at 37500 - 37200 and resistance at 38000-38300 level

* BHARATFORGE has closed with bullish candlestick formation with strong volume support. 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