IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded with positive bias yesterday as it closed with 1.00% gain at 21654 level. Banking index performed slightly better than the benchmark index as it closed with 1.17% gain at 48282 level.

* India VIX closed with 6.00% gain at 15.55 level.

* Among Sectors PSUBANK index performed better than the benchmark index as it closed with 2.06% gain while NIFTYPSE index underperformed as it closed with 0.54% cut.

* Broader market underperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.41% and 0.20% gains respectively.

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

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

Intraday Market Outlook

* Benchmark index is likely to trade with positive bias today with support at 21550 - 21500 level and resistance at 21750 – 21800 level.

* Banking index is likely to trade in line with benchmark index today with support at 48000 - 47800 level and resistance at 48700 - 48900 level.

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

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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

SEBI Registration Number : INZ000043833