Benchmark index is likely to open higher and trade volatile on monthly expiry today. Index has support at 17600 - 17500 level - Monarch Networth Capital
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/10/2d585adcc74bd053fecb7e8224792f09.jpg)
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MARKET OVERVIEW
Benchmark index traded volatile before closing with 0.42% cut at 17656 level. Banking index traded in line with the benchmark index as it closed with 0.44% cut at 41123 level.
India VIX closed with 3.11% cut at 16.88 level.
Among Sectors, PSU BANK index outperformed the benchmark index as it closed with 3.50% gain while FMCG and ENERGY index underperformed the benchmark index as they closed with 1.03% and 1.01% cut respectively. Broader market traded mixed with benchmark index as MIDCAP index closed with 0.45% gain while SMALLCAP index closed with 0.35% cut
Advance/Decline ratio was in favour of declines 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) closed higher while US markets (DJIA) closed flat yesterday. Asian Markets are trading mixed today.
NIFTY (Daily) Chart
Intraday Market Outlook
Benchmark index is likely to open higher and trade volatile on monthly expiry today. Index has support at 17600 - 17500 level and resistance at 17900 - 18000 level
Banking index is likely to trade in line with benchmark index today with support at 41000 - 40800 level and resistance at 41800 - 42000 level.
BANKBARODA has closed above 21EMA with bullish candlestick formation and is likely to continue its positive momentum today as well.
BANK NIFTY (Daily) Chart
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