IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded with negative bias as it closed with 0.50% cut at 17765 level. Banking index traded in line with the benchmark index as it closed with 0.30% cut at 41375 level. ? India VIX closed with 2.01% gain at 14.68 level.

* Among Sectors MEDIA index outperformed the benchmark index as it closed with 0.78% gain while METAL index underperformed the benchmark index as it closed with 2.20% cut. Broader market outperformed the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.75% and 0.49% 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. However, Asian Markets are largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today with support at 17650 - 17600 level and resistance at 17900 – 17950 level.

* Banking index is likely to trade in line with benchmark index today with support at 41100 - 40900 level and resistance at 41800 - 42000 level.

* POWERGRID has closed above 21day EMA with bullish candlestick and it is likely to continue its positive momentum today as well.

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