IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded range bound on Friday before closing with 0.02% cut at 22212 level. Banking index underperformed the benchmark index as it closed with 0.23% cut at 46811 level.

* India VIX closed with 1.48% cut at 14.97 level.

* Among Sectors NIFTYMEDIA index performed better than the benchmark index as it closed with 1.36% gain while NIFTY PSUBANK index underperformed as it closed with 1.15% cut.

* Broader market performed better than the benchmark index as both MIDCAP and SMALLCAP index closed with 0.31% and 0.38% gains respectively.

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

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

Intraday Market Outlook

* Benchmark index is likely to trade range bound today with support at 22100 - 22000 level and resistance at 22350 - 22400 level.

* Banking index is likely to trade in line with the benchmark index today with support at 46500 - 46300 level and resistance at 47200 - 47400 level.

* INDUSINDBK has closed with bearish candlestick and it is likely to trade with negative bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Charts

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

SEBI Registration Number : INZ000043833