Benchmark index is likely to trade volatile today. Index has support at 23850 - 23800 level - 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 0.76% cut at 24005 level on Friday. Banking index lagged the benchmark index as it closed with 1.20% cut at 50989 level.
* India VIX closed with 1.44% cut at 13.54 level.
* Among Sectors, NIFTYMEDIA outperformed the benchmark index as it closed with 1.70% gain while NIFTYIT underperformed as it closed with 1.41% cut.
* Broader market performed better than the benchmark index as MIDCAP index and SMALLCAP index closed with 0.30% and 0.24% cut respectively.
* Advance/Decline ratio was in favour of declines and cash turnover was lower than the 5-day average. FII were net sellers while DII were net buyers in the cash segment.
* European markets (SXXP) closed lower while US markets (DJIA) were closed higher yesterday. Asian Markets are trading mixed today.
Intraday Market Outlook
* Benchmark index is likely to trade volatile today. Index has support at 23850 - 23800 level and resistance at 24150 - 24200 level.
* Banking index is likely to trade in line with benchmark index with support at 50500 - 50300 level and resistance at 51400 - 51600 level.
* HINDUNILVR closed with a bullish candlestick formation on Friday and it is likely to trade with a positive bias today
NIFTY (Daily) Chart
BANK NIFTY (Daily) Chart
Please refer disclaimer at https://www.mnclgroup.com/disclaimer
SEBI Registration Number : INZ000043833
