IGI Logo

TECHNICAL OUTLOOK

* Benchmark index closed with 0.40% cut at 17004 level. Banking index lagged the benchmark index as it closed with 0.95% cut at 34857 level.

* India VIX closed with 2.02% gain at 16.15 level

* Among Sectors, IT index outperformed the benchmark index as it closed with 0.98% gain while PSUBANK and PSE were the laggards as they closed with 1.94% and 1.72% cut respectively. Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 1.05% and 0.52% cut respectively.

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

* European markets (DAX) and US markets (DJIA) were shut on Friday due to holiday. Asian markets are trading mixed today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade range bound today with support at 16900 – 16800 level and resistance at 17150 – 17250 level.

* Banking index is likely to trade in line with the benchmark index today with support at 34500 - 34300 level and resistance at 35300 - 35500 level.

* ADANIENT has closed with bullish candlestick formation. Stock is trading above 21 EMA and 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