Benchmark index is likely to trade volatile today - Monarch Networth Capital Ltd
![](https://portfolio.investmentguruindia.com/uploads/news/Monarch Networth Capital.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
TECHNICAL OUTLOOK
* Benchmark index traded with negative bias yesterday as it closed with 1.54% cut at 21238 level. Banking index underperformed the benchmark index as it closed with 2.26% cut at 45015 level.
* India VIX closed with 7.61% gain at 14.85 level.
* Among Sectors NIFTYPHARMA index performed better than the benchmark index as it closed with 1.66% gain while NIFTYMEDIA index underperformed as it closed with 12.87% cut.
* Broader market underperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 2.95% and 2.79% cut respectively.
* Advance/Decline ratio was in favour of declines and cash turnover was higher 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 lower yesterday. However, Asian Markets are trading mixed today.
Intraday Market Outlook
* Benchmark index is likely to trade volatile today. Index has support at 21100 - 21000 level and resistance at 21400 – 21450 level.
* Banking index is likely to trade in line with benchmark index today with support at 44600 - 44400 level and resistance at 45400 - 45600 level.
* HINDALCO 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
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Indiateam57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/munishakhatwal57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/tatapower57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/MP Ahammed.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Fintech Pre-budget expectation.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/uttarpradesh57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Budget_3.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Cyberpeace.jpg)