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TECHNICAL OUTLOOK

▪ Benchmark index traded on a positive note as it closed with 1.14% gain at 17464 level. Banking index outperformed the benchmark index as it closed with 1.53% gain at 38610 level

▪ India VIX closed with 5.74% cut at 18.56 level

▪ Among Sectors, AUTO and METAL index outperformed as they closed with 2.19% and 1.86% gains while PSUBANK index lagged as it closed with 0.62% cut. Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 1.14% and 0.41% gains respectively.

▪ Advance/Decline ratio was in favour of advances and cash turnover was higher 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 yesterday. However, Asian Markets are trading mixed today.

NIFTY (Daily) Chart

Intraday Market Outlook

▪ Benchmark index is likely to trade volatile on weekly expiry today. Index has support at 17300 - 17200 level and resistance at 17600 - 17700 level

▪ Banking index is likely to trade in line with the benchmark index today with support at 38200 - 38000 level and resistance at 39000 - 39200 level.

▪ ADANIPORTS has closed with bullish candlestick formation and it is likely to continue its positive momentum today as well

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