Benchmark index is likely to trade volatile today with support at 17250 - 17150 level - Monarch Networth Capital
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/09/fbe1b7896d5f8c470d07260c66403588.jpg)
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TECHNICAL OUTLOOK
* Benchmark index opened on a negative note and traded volatile before closing with 1.07% cut at 17397 level. Banking index underperformed the benchmark index as it closed with 1.76% cut at 37146 level.
* India VIX closed with 14.84% gain at 17.49 level
* Among Sectors, FMCG outperformed the benchmark index as it closed with 0.91% gain while METAL and PSUBANK underperformed as they closed with 6.60% and 4.18% cut respectively. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 2.16% and 1.73% cut respectively.
* Advance/Decline ratio was in favour of declines and cash turnover was lower 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 lower yesterday. However, Asian markets are trading mixed today.
NIFTY (Daily) Chart
Intraday Market Outlook
* Benchmark index is likely to trade volatile today with support at 17250 - 17150 level and resistance at 17500 - 17600 level
* Banking index is likely to trade in line with benchmark index today with support at 36800 - 36500 level and resistance at 37500 - 37800 level
* HINDUNILVR is trading above 21 EMA and it is likely to continue its upside momentum today as well
BANK NIFTY (Daily) Chart
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