India VIX closed with 1.27% gain at 16.77 level - Monarch Networth Capital
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TECHNICAL OUTLOOK
* Benchmark index closed with minor 0.29% gain at 18308 level. Banking index underperformed the benchmark index as it closed with 0.40% cut at 38216 level
* India VIX closed with 1.27% gain at 16.77 level
* Among Sectors, AUTO and REALTY index outperformed the benchmark index as they closed with 2.05% and 1.28% gains while PHARMA and BANKING index lagged as they closed with 0.73% and 0.40% cut respectively. Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.16% and 0.60% gains respectively.
* Advance/Decline ratio was in favour of advances and cash turnover was lower than 5-day average. Both FII and DII were net sellers in the cash segment
* European markets (DAX) closed higher while US markets (DJIA) were closed due to holiday yesterday. Asian Markets are trading largely higher today.
NIFTY (Daily) Chart
Intraday Market Outlook
* Benchmark index is likely to trade with mild positive bias today with support at 18200 - 18100 level and resistance at 18450 - 18550 level.
* Banking index is likely to trade with volatile price action today with support at 37800 - 37600 level and resistance at 38600 - 38800 level.
* CANFINHOME 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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