IGI Logo

TECHNICAL OUTLOOK

* Benchmark index closed with 0.49% gain at 17917 level. Banking index traded in line with the benchmark index as it closed with 0.44% gain at 39574 level.

* India VIX closed with 2.36% cut at 15.75 level

* Among Sectors, AUTO and MEDIA indices outperformed the benchmark index as they closed with 1.48% and 1.47% gain. Broader market performed slightly better than the benchmark index as MIDCAP and SMALLCAP index closed with 0.79% and 1.30% gains respectively.

* Advance/Decline ratio was in favour of advances 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 higher on Friday. Asian markets are trading mixed today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today with support at 17850 - 17750 level and resistance at 18100 - 18200 level

* Banking index is likely to trade in line with the benchmark index today with support at 39300 - 39100 level and resistance at 40000 - 40200 level

* LT is trading above 21 EMA and it is likely to continue its upside 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