Benchmark index opened on a positive note and traded volatile before closing with 0.02% minor gain at 15693 level - Monarch Networth Capital
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/07/6c16f28e9f83ac67bccd9c29bc31a0b8.jpg)
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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
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