IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.41% gain at 18403 level. Banking index traded in line with the benchmark index as it closed with 0.70% gain at 42373 level.

* India VIX closed with 1.84% cut at 14.63 level.

* Among Sectors, AUTO index outperformed the benchmark index as it closed with 0.64% gain while METAL and REALTY index underperformed the benchmark index as they closed with 0.20% and 0.11% cut respectively. Broader market lagged the benchmark index as MIDCAP and SMALLCAP index closed with 0.08% and 0.01% gains respectively.

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

* European markets (DAX) and US markets (DJIA) closed higher yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today with support at 18300 - 18250 level and resistance at 18500 – 18550 level.

* Banking index is likely to trade with mild positive bias today with support at 42200 - 42000 level and resistance at 42800 - 43000 level.

* TCS has closed above 21EMA with bullish candlestick formation and 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