IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded with positive bias before closing with 0.43% gain at 19439 level. Banking index lagged the benchmark index as it closed with 0.26% cut at 44745 level.

* India VIX closed with 3.93% cut at 11.01 level.

* Among Sectors AUTO index outperformed the benchmark index as it closed with 1.39% gain while FINNIFTY index underperformed as it closed with 0.44% cut.

* Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.97% and 0.82% 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) and US markets (DJIA) closed higher yesterday. Asian Markets are trading mixed today

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today. Index has support at 19300 - 19250 level and resistance at 19550 – 19600 level

* Banking index is likely to trade in line with the benchmark index today with support at 44400 - 44100 level and resistance at 45000 - 45300 level.

* LT 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