IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday on monthly expiry before closing with 0.75% gain at 22570 level. Banking index performed in line with the benchmark index as it closed with 0.63% gain at 48495 level.

* India VIX closed with 4.43% gain at 10.73 level.

* Among Sectors NIFTYPSUBANK index performed better than the benchmark index as it closed with 3.77% gain while NIFTYREALTY index underperformed as it closed with 0.25% cut.

*  Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.47% and 0.84% 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) and US markets (DJIA) closed lower yesterday. Asian Markets are largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade with positive bias today index has support at 22500 - 22450 level and resistance at 22700 - 22750 level.

* Banking index is likely to trade in line with the benchmark index today with support at 48200 - 48000 level and resistance at 48800 - 49000 level.

* RELIANCE has closed with bullish candlestick and it is likely to trade with positive bias today

NIFTY (Daily) Chart

BANK NIFTY (Daily) Charts

Please refer disclaimer at https://www.mnclgroup.com/disclaimer

SEBI Registration Number : INZ000043833