IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.54% cut at 15687 level. Banking index performed in line with the benchmark index as it closed with 0.49% cut at 34574 level

* India VIX closed with 4.27% gain at 15.37 level

* Among Sectors, AUTO and MNC index outperformed the benchmark index as they closed with 0.46% and 0.18% gains respectively while METAL and IT index underperformed as they closed with 1.13% and 0.93% cut. Broader market performed in line with the benchmark index as MID cap and SMALL cap index closed with 0.21% and 0.52% cut respectively

* Advance/Decline ratio was in favour of declines 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 lower yesterday. However, Asian markets are trading with mild positive bias today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile on June monthly expiry with support at 15550 - 15450 level and resistance at 15800 - 15900 level

* Banking index is likely to trade in line with the benchmark index with support at 34200 - 34000 level and resistance at 35000 - 35300 level

* TITAN 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