IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded on a positive note before closing with 1.35% gain at 17158 level. Banking index underperformed the benchmark index as it closed with 0.30% gain at 37491 level ? India VIX closed with 2.70% cut at 16.55 level

* Among Sectors, METAL and PSE index outperformed the benchmark index as they closed with 3.86% and 1.87% gains while PSUBANK index underperformed as it closed with 1.17% cut. Broader market outperformed the benchmark index as MIDCAP and SMALLCAP index closed with 1.42% and 1.70% 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 on Friday. Asian Markets are trading mixed today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade range bound today with support at 17100 - 17000 level and resistance at 17250 - 17350 level

* Banking index is likely to trade in line with the benchmark index today with support at 37200 - 37000 level and resistance at 37800 - 38000 level

* RELIANCE has closed with bullish candlestick formation 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