IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing higher with 1.16% gain at 17316 level. Banking index lagged the benchmark index as it closed with 0.92% gain at 36349 level

* India VIX closed with 2.23% cut at 24.07 level

* Among Sectors, IT and ENERGY index outperformed as they closed with 1.96% and 1.70% gains while REALTY and FMCG index underperformed as they closed with 1.01% and 0.73% cut respectively. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.28% gains each.

* Advance/Decline ratio was in favour of advances and cash turnover was lower than 5-day average. FII were net buyers while DII were net sellers in the cash segment

* European markets (DAX) and US markets (DJIA) closed higher yesterday. Asian Markets are following suit and trading higher today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today with support at 17200 - 17100 level and resistance at 17500 - 17600 level.

* Banking index is likely to trade in line with benchmark index with support at 36000 - 35700 level and resistance at 36800 - 37200 level.

* TECHM has closed with bullish candlestick formation below 21 EMA and it is likely to continue its positive 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 Disclaimer