IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing flat at 15576 level. Banking index performed in line with benchmark index as it closed with 0.10% gain at 35374 level

* India VIX closed with 1.04% cut at 17.21 level

* Among Sectors, PSU BANK and METAL index outperformed the benchmark index as they closed with 3.03% and 2.18% gains respectively while IT and FMCG index lagged as they closed with 0.75% and 0.52% cut, respectively. Broader market performed better as MID cap index and SMALL cap index closed with 1.43% and 1.31% gain respectively

* Advance/Decline ratio was in favour of advances and Cash turnover was lower than 5 day average. Both FII and DII were net buyers in the cash segment

* European markets (DAX) and US markets (DJIA) closed with marginal gains yesterday. Asian markets are largely trading higher today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today with support at 15500 - 15400 and resistance at 15700 - 15800 level

* Banking index is likely to trade with mild positive bias today with support at 35000 - 34700 and resistance at 35700 - 36000 level

* SBIN 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

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