India VIX closed with 0.90% cut at 16.56 level - Monarch Networth Capital
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TECHNICAL OUTLOOK.
* Benchmark index closed with minor 0.01% cut at 18256 level. Banking index underperformed the benchmark index as it closed with 0.26% cut at 38370 level
* India VIX closed with 0.90% cut at 16.56 level
* Among Sectors, REALTY and PSE index outperformed the benchmark index as they closed with 1.15% and 0.59% gains while FMCG and PHARMA index lagged as they closed with 0.71% and 0.62% cut respectively. Broader market traded mixed as MIDCAP index closed with minor 0.02% cut while SMALLCAP index closed with 0.75% gain.
* 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. However, Asian Markets are trading mixed today.
NIFTY (Daily) Chart
Intraday Market Outlook
* Benchmark index is likely to trade volatile today with support at 18100 - 18000 level and resistance at 18350 - 18450 level.
* Banking index is likely to trade in line with benchmark index today with support at 37900 - 37700 level and resistance at 38800 - 39000 level.
* IRCTC has closed with bullish candlestick formation accompanied with strong volumes. Stock is likely to continue its positive momentum today as well..
BANK NIFTY (Daily) Chart
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