IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.34% cut at 24971 level yesterday. Banking index performed better than the benchmark index as it closed with 0.20% cut at 51801 level.

* India VIX closed with 0.38% gain at 13.05 level.

* Among Sectors NIFTYREALTY outperformed the benchmark index as it closed with 0.55% gain while NIFTYAUTO underperformed as it closed with 1.27% cut.

* Broader market performed mixed as MIDCAP index closed with 0.24% cut while SMALLCAP index closed with 0.01% gain.

* Advance/Decline ratio was in favour of declines and cash turnover was higher than the 5-day average. FII were net sellers while DII were net buyers in the cash segment.

* European markets (DAX) closed lower while US markets (DJIA) closed higher yesterday. Asian Markets are largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile on weekly expiry today. Index has support at 24850 - 24800 level and resistance at 25150 - 25200 level.

* Banking index is likely to perform in line with benchmark index today with support at 51400 - 51200 level and resistance at 52300 - 52500 level.

* RELIANCE has closed with bullish candlestick pattern. It is likely to trade with a positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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

SEBI Registration Number : INZ000043833