Benchmark index is likely to trade volatile today with support at 15700 - 15550 level - Monarch Networth
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TECHNICAL OUTLOOK
Benchmark index traded with negative bias as it closed with 2.35% cut at 15863 level. Banking index underperformed the benchmark index as it closed with 4.47% cut at 32871 level
India VIX closed with 4.90% gain at 29.33 level
Among Sectors, METAL and PSE index performed better as they closed with 2.10% and 1.45% gains while REALTY and PSUBANK index underperformed as they closed with 5.47% and 4.58% cut. Broader market traded in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 2.37% and 2.04% 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 largely trading lower today.
NIFTY (Daily) Chart
Intraday Market Outlook
Benchmark index is likely to trade volatile today with support at 15700 - 15550 level and resistance at 16050 - 16200 level
Banking index is likely to trade in line with benchmark index with support at 32400 - 32000 level and resistance at 33300 - 33700 level.
BHARTIARTL has closed with bullish candlestick formation with above average volumes. Stock is likely to continue it positive momentum today as well
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