Benchmark index opened on a positive note and traded lower before closing with 0.67% cut at 15635 level - Monarch Networth Capital
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TECHNICAL OUTLOOK
* Benchmark index opened on a positive note and traded lower before closing with 0.67% cut at 15635 level. Banking index underperformed the benchmark index as it closed with 0.81% cut at 34801 level
* India VIX closed with 3.15% cut at 14.75 level
* Among Sectors, PSE index outperformed the benchmark index as it closed with 0.31% gain while REALITY and PSU BANK index underperformed as they closed with 1.66% and 1.43% cut. Broader market lagged benchmark index as MID cap and SMALL cap index closed with 0.72% and 1.35% cut respectively
* Advance/Decline ratio was in favour of declines 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 lower yesterday. However, Asian markets are trading higher today.
NIFTY (Daily) Chart
Intraday Market Outlook
* Benchmark index is likely to trade volatile on weekly expiry today with support at 15500 - 15400 level and resistance at 15750 - 15850 level
* Banking index is likely to trade in line with benchmark index today with support at 34400 – 34000 level and resistance at 35200 - 35500 level
* TITAN has closed with bullish candlestick formation above 21 EMA and it is likely to continue its upside momentum today as well
BANK NIFTY (Daily) Chart
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