Benchmark index traded with positive bias as it closed with 0.67% gain at 17711 level - Monarch Networth Capital
TECHNICAL OUTLOOK
Benchmark index traded with positive bias as it closed with 0.67% gain at 17711 level. Banking index lagged the benchmark index as it closed with 0.24% gain at 41350 level.
India VIX closed with 0.08% cut at 12.26 level.
Among Sectors ENERGY index outperformed the benchmark index as it closed with 1.93% gain while REALTY index underperformed the benchmark index as it closed with 0.52% cut. Broader market performed better than the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.85% and 1.12% gains respectively.
Advance/Decline ratio was in favour of advances and cash turnover was lower than 5-day average. Both FII & DII were net buyers in the cash segment.
European markets (DAX) and US markets (DJIA) closed lower yesterday. 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 17550 - 17500 level and resistance at 17800 – 17850 level.
Banking index is likely to trade in line with benchmark index today with support at 40700 - 40500 level and resistance at 41500 - 41700 level.
HINDALCO has closed below 21EMA with bearish candlestick and it is likely to trade with negative bias today as well.
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