IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded range bound before closing with 0.14% cut at 26179 level on Friday. Banking index underperformed as it closed with 1.00% cut at 53834 level.

* India VIX closed with 0.33% cut at 11.96 level.

* Among Sectors NIFTYPSE outperformed the benchmark index as it closed with 1.51% gain while NIFTYREALTY underperformed as it closed with 1.19% cut.

*  Broader market performed in line with the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.15% and 0.10% cut respectively.

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

* Both European markets (DAX) and US markets (DJIA) closed higher on Friday. However, Asian Markets are trading mixed today.

Intraday Market Outlook.

* Benchmark index is likely to trade range bound today. Index has support at 26000 - 25950 level and resistance at 26300 - 26350 level.

* Banking index is likely to trade with negative bias today with support at 53300 - 53000 level and resistance at 54100 - 54300 level.

* LUPIN has 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