Asian Markets are largely trading higher today - Monarch Networth Capital Ltd
TECHNICAL OUTLOOK
* Benchmark index traded volatile before closing with 0.91% gain at 24131 level on Friday. Banking index underperformed the benchmark index as it closed with 0.29% gain at 52055 level.
* India VIX closed with 5.13% cut at 14.42 level.
* Among Sectors NIFTYPHARMA outperformed the benchmark index as it closed with 2.35% gain while NIFTYREALTY underperformed as it closed with 0.51% cut.
* Broader market traded lagged the benchmark index as both MIDCAP and SMALLCAP index closed with 0.16% and 0.75% gains respectively.
* Advance/Decline ratio was in favour of advances and cash turnover was lower than the 5-day average. FII were net sellers while DII were net buyers in the cash segment.
* Both European markets (DAX) and US markets (DJIA) closed higher on Friday. Asian Markets are largely trading higher today.
Intraday Market Outlook
* Benchmark index is likely to trade volatile today. Index has support at 24000 - 23900 level and resistance at 24300 - 24350 level.
* Banking index is likely to trade in line with the benchmark index with support at 51600 - 51400 level and resistance at 52500 - 52700 level.
* DIVISLAB closed with a positive candlestick pattern and it is likely to trade with a positive bias today.
NIFTY (Daily) Chart
BANK NIFTY (Daily) Chart
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