IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded with negative bias yesterday as it closed with 1.41% cut at 21150 level. Banking index traded in line with the benchmark index as it closed with 0.89% cut at 47445 level.

* India VIX closed with 4.20% gain at 14.45 level.

* Among Sectors NIFTYFMCG index performed better than the benchmark index as it closed with 0.33% cut while NIFTYMEDIA index underperformed as it closed with 5.11% cut.

* Broader market underperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 3.12% and 3.42% cut respectively.

* Advance/Decline ratio was in favour of decline 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. Asian Markets are following suit and trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 21000 - 20900 level and resistance at 21250 – 21300 level.

* Banking index is likely to trade in line with benchmark index today with support at 47000 - 46800 level and resistance at 47700 - 47900 level.

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

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

SEBI Registration Number : INZ000043833