IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded volatile and closed with 0.31% cut at 18211 level. Banking index underperformed the benchmark index as it closed with 0.88% cut at 40874 level.

* India VIX closed with 0.48% gain at 16.83 level

* Among Sectors, PSUBANK and IT indices outperformed the benchmark index as they closed with 2.05% and 0.97% gains while MEDIA and METAL index underperformed as they closed with 2.03% and 1.52% cut respectively. Broader market performed better than the benchmark index as MIDCAP and SMALLCAP index closed with 0.08% and 0.27% gains respectively.

* Advance/Decline ratio was in favour of declines 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 lower yesterday. Asian markets are largely trading lower today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile today on monthly expiry with support at 18100 - 18000 level and resistance at 18300 - 18400 level

* Banking index is likely to trade in line with the benchmark index today with support at 40500 - 40200 level and resistance at 41200 - 41500 level

* INFY closed with bullish candlestick formation above 21 EMA and it is likely to continue its upside 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