IGI Logo

TECHNICAL OUTLOOK

* Benchmark index opened on a positive note and traded volatile before closing with 0.02% minor gain at 15693 level. Banking index performed slightly better as it closed with 0.36% gain at 35199 level

* India VIX closed with 0.39% gain at 12.99 level

* Among Sectors, REALTY index outperformed the benchmark index as it closed with 3.61% gain while IT and METAL index underperformed as they closed with 0.45% and 0.21% cut. Broader market performed better as MID cap and SMALL cap index closed with 0.44% and 0.60% gains respectively

* Advance/Decline ratio was in favour of advances 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) and US markets (DJIA) closed higher on Friday. Asian markets are following suit and trading higher today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade with positive bias today with support at 15600 - 15500 level and resistance at 15850 - 15950 level

* Banking index is likely to trade in line with the benchmark index with support at 35000 - 34700 level and resistance at 35700 - 36000 level

* IRCTC 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

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 Disclaime