Benchmark index traded with positive bias as it closed with 0.85% gain at 17451 level - Monarch Networth Capital
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TECHNICAL OUTLOOK
Benchmark index traded with positive bias as it closed with 0.85% gain at 17451 level. Banking index performed better than the benchmark index as it closed with 1.07% gain at 40698 level
ndia VIX closed with 7.31% cut at 12.99 level.
Among Sectors METAL index outperformed the benchmark index as it closed with 3.96% gain while PHARMA index underperformed the benchmark index as it closed with 0.15% gain. Broader market outperformed the benchmark index as both MIDCAP and SAMLLCAP index closed with 1.35% and 1.38% gains respectively.
Advance/Decline ratio was in favour of advances 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) closed lower while US markets (DJIA) closed with minor gain yesterday. Asian Markets are trading mixed today
Intraday Market Outlook
Benchmark index is likely to trade volatile today with support at 17350 - 17300 level and resistance at 17550 – 17600 level.
Banking index is likely to trade in line with benchmark index today with support at 40300 - 40100 level and resistance at 41000 - 41200 level.
MARUTI has closed above 21EMA with bullish candlestick and it is likely to trade with positive bias today as well.
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