India VIX closed with 6.44% cut at 21.36 level - Monarch Networth Capital
TECHNICAL OUTLOOK
* Benchmark index closed with 0.75% gain at 17278 level. Banking index performed better than the benchmark index as it closed with 2.05% gain at 37707 level
* India VIX closed with 6.44% cut at 21.36 level
* Among Sectors, PSUBANK and AUTO index outperformed as they closed with 4.24% and 2.32% gains while IT index lagged as it closed with 0.33% cut. Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 1.00% and 0.90% gains respectively.
* Advance/Decline ratio was in favour of advances 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 gains while US markets (DJIA) gave up gains and closed lower after FOMC meeting outcome yesterday. Asian Markets are trading lower today.
Intraday Market Outlook
* Benchmark index is likely to open lower following weak global cues and trade volatile on monthly expiry day. Index has support at 16800 - 16700 level and resistance at 17100 - 17200 level.
* Banking index is likely to trade in line with the benchmark index today with support at 36800 - 36500 level and resistance at 37700 - 38000 level.
* RAMCOCEM has closed with bearish candlestick formation below 21 EMA. Stock is likely to continue its negative 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
Top News
India could see some risks to FY26 fiscal deficit target of 4.5% of GDP: Moody`s Christian d...
Tag News
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
More News
Nifty hit the first expected resistance at 18060 - Tradebulls Securities