Benchmark index is likely to trade volatile today - Monarch Networth Capital Ltd
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TECHNICAL OUTLOOK
* Benchmark index traded volatile yesterday before closing with 0.99% cut at 21522 level. Banking index performed better than the benchmark index as it closed with 0.16% cut at 45367 level.
* India VIX closed with 2.69% gain at 16.10 level.
* Among Sectors PSUBANK index performed better than the benchmark index as it closed with 0.96% gain while NIFTYENERGY index underperformed as it closed with 1.69% cut.
* Broader market traded mixed as MIDCAP closed with 0.53% cut while SMALLCAP index closed with 0.18% gains.
* Advance/Decline ratio was in favour of declines and cash turnover was lower than 5-day average. FII were net sellers while DII were net buyers in the cash segment.
* European markets (DAX) and US markets (DJIA) closed higher yesterday. Asian Markets are trading mixed today.
Intraday Market Outlook
* Benchmark index is likely to trade volatile today. Index has support at 21350 - 21300 level and resistance at 21650 – 21700 level.
* Banking index is likely to trade in line with benchmark index today with support at 45000 - 44800 level and resistance at 45800 - 46000 level.
* SYNGENE has closed with bullish candlestick and it is likely to trade with positive bias today.
NIFTY (Daily) Chart
BANK NIFTY (Daily) Charts
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