Benchmark index is likely to open higher on favourable global cues - 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 yesterday before closing with 0.72% gain at 21929 level. Banking index underperformed the benchmark index as it closed with 0.29% cut at 45690 level.
* India VIX closed with 1.07% gain at 15.78 level.
* Among Sectors NIFTYIT index performed better than the benchmark index as it closed with 2.92% gain while NIFTYPSU BANK index underperformed as it closed with 0.39% cut.
* Broader market traded in line with benchmark index as both MIDCAP and SMALLCAP index closed with 1.19% and 0.79% gains respectively.
* Advance/Decline ratio was in favour of advances and cash turnover was lower than 5-day average. Both FII and DII were net buyers in the cash segment.
* European markets (DAX) and US markets (DJIA) closed higher yesterday. Asian Markets are largely trading with positive bias today.
Intraday Market Outlook
* Benchmark index is likely to open higher on favourable global cues and trade volatile today. Index has support at 21900 - 21850 level and resistance at 22100 – 22150 level.
* Banking index is likely to trade in line with the benchmark index today with support at 45600 - 45400 level and resistance at 46200 - 46400 level.
* ASIANPAINTS has closed with Doji reversal candlestick pattern and it is likely to trade with positive bias today.
NIFTY (Daily) Chart
BANK NIFTY (Daily) Charts
Please refer disclaimer at https://www.mnclgroup.com/disclaimer
SEBI Registration Number : INZ000043833
