Banking index is likely to trade in line with the benchmark index today with support at 50800 - 50600 level and resistance at 51700 - 51900 level - Monarch Networth Capital Ltd
![](https://portfolio.investmentguruindia.com/uploads/news/Monarch networth.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
TECHNICAL OUTLOOK
* Benchmark index traded range bound before closing with 0.03% gain at 25018 level yesterday. Banking index outperformed the benchmark index as it closed with 0.26% gain at 51279 level.
* India VIX closed with 0.72% cut at 13.70 level.
* Among Sectors FINNIFTY outperformed the benchmark index as it closed with 0.82% gain while NIFTYFMCG index underperformed as it closed with 1.06% cut.
* Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.49% and 1.05% gains respectively.
* Advance/Decline ratio was in favour of declines 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) closed higher while US markets (DJIA) closed with minor gain yesterday. Asian Markets are largely trading lower today.
Intraday Market Outlook
* Benchmark index is likely to trade range bound today. Index has support at 24850 - 24800 level and resistance at 25150 - 25200 level.
* Banking index is likely to trade in line with the benchmark index today with support at 50800 - 50600 level and resistance at 51700 - 51900 level.
* INFY closed with bullish candlestick pattern 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
![](https://portfolio.investmentguruindia.com/uploads/news/KaranAdani025.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/hydroelectric025.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dollar retures 2.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/oil02365.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Disney_123.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/sbi025.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Paytm_159.jpg)
Top News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/02/4200db38c9689830494a5d2302f3edd4.jpg)
Budget 2023 : Finance Minister Nirmala Sitharaman Says We are taking on a people-centric age...
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _14.jpg)
Market Quote : A consolidation in the US 10yr bond yield and an inflow of FIIs kept the dome...
![Sensex ends flat, Nifty at 25,052 after hitting fresh all-time high](https://portfolio.investmentguruindia.com/uploads/news/Sensex_5212.jpg)
![Daily Market Analysis : The outlook suggests further consolidation in the index, but the bias remains positive Says Mr. Ajit Mishra, Religare Broking Ltd](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![Wodehouse Capital Advisors Market Outlook - Indian Hospital Industry (August 2024)](https://portfolio.investmentguruindia.com/uploads/news/Wodehouse _Market Outlook_August 2024.jpg)