Banking index is likely to trade in line with the benchmark index today with support at 51000 - 50800 - Monarch Networth Capital Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
TECHNICAL OUTLOOK
* Benchmark index traded volatile before closing with 0.09% gain at 24857 level. Banking index performed in line with the benchmark index as it closed with 0.18% gain at 51499 level.
* India VIX closed with 0.50% cut at 12.88 level.
* Among Sectors NIFTYENERGY index performed better than the benchmark index as it closed with 1.08% gain while NIFTYFMCG index underperformed as it closed with 1.11% cut.
* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.45% and 0.86% gains respectively.
* Advance/Decline ratio was in favour of advances and cash turnover was lower 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 higher yesterday. Asian Markets are largely trading higher today.
Intraday Market Outlook
* Benchmark index is likely to trade volatile today. Index has support at 24700 - 24650 level and resistance at 25000 - 25050 level.
* Banking index is likely to trade in line with the benchmark index today with support at 51000 - 50800 level and resistance at 52000 - 52200 level.
* JSWSTEEL 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
