IGI Logo

TECHNICAL OUTLOOK

* Benchmark index witnessed sharp selloff in last hour as it closed with 1.25% cut at 16959 level. Banking index performed better than the benchmark index as it closed with 1.05% cut at 36342 level

* India VIX closed with 2.28% gain at 19.78 level

* Among Sectors, ENERGY index outperformed the benchmark index as it closed with 0.06% minor gain while IT and FMCG index underperformed as they closed with 2.98% and 2.82% cut respectively. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 1.37% and 1.66% cut respectively

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

* European markets (DAX) closed with minor cut while US markets (DJIA) closed higher yesterday. Asian Markets are trading mixed today

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 16800 - 16700 level and resistance at 17100 - 17200 level.

* Banking index is likely to trade in line with benchmark index today with support at 35800 - 35500 level and resistance at 36900 - 37200 level.

* APOLLOHOSP has closed with bullish candlestick formation. Stock is trading above 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