IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded on a negative note as it closed with 3.06% cut at 16843 level. Banking index underperformed the benchmark index as it closed with 4.18% cut at 36909 level

* India VIX closed with 22.98% gain at 23.02 level

* Among Sectors, PSUBANK and REALTY index underperformed as they closed with 5.95% and 5.29% cut. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 3.94% and 4.44% 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) and US markets (DJIA) closed lower yesterday. Asian Markets are trading mixed today.
 

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 16700 - 16600 level and resistance at 17050 – 17150 level.

* Banking index is likely to trade in line with the benchmark index today with support at 36500 - 36200 level and resistance at 37400 - 37700 level.

* TCS has closed with bullish candlestick formation accompanied by good volumes and it is likely to continue its positive momentum today as well.

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