IGI Logo

MARKET OVERVIEW

* Benchmark index traded volatile before closing with 0.10% cut at 17315 level. Banking index lagged the benchmark index as it closed with 0.27% cut at 39178 level

* India VIX closed with 2.60% cut at 18.8 level

* Among Sectors, MEDIA index outperformed the benchmark index as it closed with 0.38% gain while IT and FMCG index underperformed the benchmark index as they closed with 0.70% and 0.64% cut respectively. Broader market traded in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.15% cut and 0.30% 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 on Friday. Asian Markets are following suit and trading lower today.

Intraday Market Outlook

* Benchmark index is likely to open lower following unfavourable global cues and trade volatile today. Index has support at 17000 - 16900 level and resistance at 17300 - 17400 level

* Banking index is likely to trade in line with benchmark index today with support at 38500 - 38200 level and resistance at 39200 - 39500 level

* SBIN has closed below 21EMA with bearish candlestick formation and is likely to continue its negative 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 Disclaimer