IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded on a positive note as it closed with 2.17% gain at 18053 level. Banking index outperformed the benchmark index as it closed with 4.00% gain at 38635 level

* India VIX closed with 2.87% cut at 17.91 level

* Among Sectors, BANKING and METAL index outperformed as they closed with 4.00% and 1.99% gains. Broader market lagged the benchmark index as both MIDCAP and SMALLCAP index closed with 1.63% and 1.62% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was higher than 5-day average. Both FII and 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 open on a positive note but may see pullback later during the day. Index has support at 17900 - 17800 level and resistance at 18200 - 18300 level.

* Banking index is likely to trade in line with benchmark index with support at 38300 - 38000 level and resistance at 39000 - 39300 level.

* ADANIPORTS has closed with bullish candlestick formation above 21 EMA and it is likely to continue its positive 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 Disclaimer