IGI Logo

TECHNICAL OUTLOOK

* Benchmark index opened on a positive note and traded volatile before closing with 0.25% cut at 17585 level. Banking index outperformed the benchmark index as it closed with 0.38% gain at 37812 level.

* India VIX closed with 5.69% gain and closed at 15.23 level

* Among Sectors, MEDIA and BANKING indices outperformed the benchmark index as they closed with 0.98% and 0.38% gains while PSUBANK and METAL underperformed as they closed with 2.96% and 2.38% cut respectively. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 1.27% and 0.73% cut respectively.

* Advance/Decline ratio was in favour of declines and cash turnover was higher than 5 day average. FII were net buyers while DII were net sellers in the cash segment

* European markets (DAX) and US markets (DJIA) closed lower on Friday. Major Asian markets are shut today on account of holiday.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to open gap down following weak global cues and trade volatile today with support at 17350 - 17250 level and resistance at 17600 - 17700 level

* Banking index is likely to trade in line with benchmark index today with support at 37300 - 37000 level and resistance at 38000 - 38300 level

* DABUR has closed above short-term consolidation with bullish candlestick formation. Stock is trading above 21 EMA and it is likely to continue its upside 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 Disclaime