Benchmark Index is likely to open gap-down and trade with negative bias on monthly expiry day - Monarch Networth
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/02/cda7be5f349232c291aabf39238b5f57.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
TECHNICAL OUTLOOK
* Benchmark index traded volatile before closing with 0.17% cut at 17063 level. Banking index performed slightly better than the benchmark index as it closed with minor 0.05% gain at 37392 level India VIX closed with 7.95% cut at 24.54 level
* Among Sectors, REALTY and PSUBANK index outperformed the benchmark index as they closed with 3.15% and 1.04% gain while AUTO index lagged as it closed with 0.21% cut. Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.64% and 1.16% gains respectively.
* Advance/Decline ratio was in favour of declines and cash turnover was lower 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 following suit and trading lower today on further escalation in Russia-Ukraine crisis.
NIFTY (Daily) Chart
Intraday Market Outlook
* Benchmark Index is likely to open gap-down and trade with negative bias on monthly expiry day. Index has support at 16800 - 16650 level and resistance at 17100 - 17200 level.
* Banking index is likely to trade in line with the benchmark index today with support at 36600 - 36300 level and resistance at 37500 - 37700 level.
* GUJGASLTD has closed with bearish candlestick formation below 21 EMA. Stock is likely to continue its negative 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
![](https://portfolio.investmentguruindia.com/uploads/news/Gold Jewellery.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Mutual Fund 21.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Utkarsh Small Finance Bank.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/real estate sector_856.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Home Finance_12.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/coocker57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/IDBI Bank 1.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/UPI Auto Pay.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Rupee_040124.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/apple57.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/cc796169e4f7c012914c95f4a8efe430.jpg)
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
![Weekly market outlook : The market is eagerly awaiting data on inflation and industrial production to provide further guidance Says Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/5f1fa5f12be5ac87ff9258ea3909f0f8.jpg)
![Market Quote : Benchmark Indices ended the week today just a few percentage away from record highs Says S Ranganathan, LKP securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/f33c3d1dad571464e55a94475ae32892.jpg)
![Daily Market Commentary : Nifty closed higher for the sixth straight day with gains of 93 points (+0.5%) at 19820 levels Says Mr. Siddhartha Khemka, Motilal Oswal](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/009b2b15289ce4f7e143526434c946d5.jpg)
More News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/09/dfc3e2e68edd4da7ed6a5515fe97a551.jpg)
The daily strength indicator RSI is gyrating around its reference line indicating lack of mo...
![Amidst the negative of an alarming rise in Covid cases By V K Vijayakumar, Geojit Financial](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/04/1bd27e345b0f5a40367bf4efd4369585.jpg)
![The market is likely to start the day on backfoot on the back of weak - Swastika Investmart](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/02/be965b98614004f042f59a3c501ec99c.jpg)
![Market Quote : The domestic market inched higher in anticipation of possible progress Says Mr. Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/05/b2cc071eb8e63a1b1181bf71fe0c4dd0.jpg)