IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.38% cut at 24548 level yesterday. Banking index performed in line with the benchmark index as it closed with 0.33% cut at 53216 level.

* India VIX closed with 0.58% cut at 13.19 level.

* Among Sectors, NIFTYIT outperformed the benchmark index as it closed with 0.77% gain while NIFTYMEDIA underperformed as it closed with 2.29% cut.

* Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.46% and 0.97% cut respectively.

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

Intraday Market Outlook

* Benchmark index is likely to open lower and trade volatile today. Index has support at 24350 - 24300 level and resistance at 24650 - 24700 level.

* Banking index is likely to trade in line with the benchmark index with support at 52600 - 52400 level and resistance at 53600 - 53800 level.

* NATIONALUM closed with a negative candlestick pattern and it is likely to trade with a negative bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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

SEBI Registration Number : INZ000043833