Benchmark index is likely to trade with mild negative bias today with support at 19600 - 19550 level - Monarch Networth Capital
TECHNICAL OUTLOOK
Benchmark index traded volatile before closing with 0.10% cut at 19733 level. Banking index traded in line with the benchmark index as it closed with 0.13% cut at 45592 level.
India VIX closed with 1.25% cut at 10.28 level.
Among Sectors IT index outperformed the benchmark index as it closed with 1.2% gain while REALTY index underperformed as it closed with 1.77% cut.
Broader market traded mixed as MIDCAP index and SMALLCAP index closed with 0.23% cut and 0.50% 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) closed lower while US markets (DJIA) closed higher yesterday. Asian Markets are largely trading lower today.
Intraday Market Outlook
Benchmark index is likely to trade with mild negative bias today with support at 19600 - 19550 level and resistance at 19800 – 19850 level
Banking index is likely to trade in line with the benchmark index today with support at 45200 - 45000 level and resistance at 45900 - 46100 level.
DEEPAKNTR has closed above 21EMA with bullish candlestick and it is likely to trade with positive bias today as well.
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