IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded rangebound before closing with 0.11% cut at 18329 level. Banking index traded in line with the benchmark index as it closed with 0.14% cut at 42077 level.

* India VIX closed with 3.51% gain at 14.91 level.

* Among Sectors, METAL index outperformed the benchmark index as it closed with 1.73% gain while MEDIA and FMCG index underperformed the benchmark index as they closed with 2.40% and 1.35% cut respectively. Broader market performed better than the benchmark index as MIDCAP and SMALLCAP index closed with 0.05% and 0.25% 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 buyers in the cash segment

* European markets (DAX) closed higher while US markets (DJIA) closed lower yesterday. Asian Markets are largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today with support at 18250 - 18200 level and resistance at 18450 – 18500 level

* Banking index is likely to trade in line with benchmark index today with support at 41800 - 41600 level and resistance at 42400 - 42600 level.

* AMBUJACEM 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