Asian Markets are largely trading higher today - Monarch Networth Capital Ltd
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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
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