Benchmark index opened on a positive note and traded volatile before closing with 0.05% cut at 15575 level - Monarch Networth Capital
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TECHNICAL OUTLOOK
* Benchmark index opened on a positive note and traded volatile before closing with 0.05% cut at 15575 level. Banking index lagged as it closed with 0.53% cut at 35337 level
* India VIX closed with 2.96% gain at 17.39 level
* Among Sectors, ENERGY index outperformed the benchmark index as it closed with 0.34% gain while METAL and PSU BANK index lagged as they closed with 0.78% and 0.57% cut, respectively. Broader market underperformed the benchmark index as MID cap index and SMALL cap index closed with 0.10% and 0.65% cut respectively
* Advance/Decline ratio was in favour of declines and Cash turnover was lower than 5 day average. FII were sellers while DII were net buyers in the cash segment
* European markets (DAX) closed higher while US markets (DJIA) gave up gains from higher levels and closed marginally up yesterday. Asian markets are trading mixed today.
NIFTY (Daily) Chart
Intraday Market Outlook
* Benchmark index is likely to trade range bound with support at 15500 - 15400 and resistance at 15700 - 15800 level
* Banking index is likely to trade in line with the benchmark index with support at 35000 - 34700 and resistance at 35700 - 36000 level
* APOLLOHOSP 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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