IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded range bound before closing with 0.13% cut at 25356 level on Friday. Banking index outperformed the benchmark index as it closed with 0.32% gain at 51938 level

* India VIX closed with 4.80% cut at 12.55 level

* Among Sectors NIFTYREALTY outperformed the benchmark index as it closed with 1.73% gain while NIFTYENERGY underperformed as it closed with 0.63% cut.

* Broader market outperformed the benchmark index as both MIDCAP100 and SMALLCAP100 index closed with 0.66% and 0.78% gains respectively.

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

* Both 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 with mild positive bias today. Index has support at 25250 - 25200 level and resistance at 25500 - 25550 level.

*  Banking index is likely to perform in line with benchmark index today with support at 51600 - 51400 level and resistance at 52400 - 52600 level.

* INDUSINDBNK has closed with bullish candlestick pattern and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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

SEBI Registration Number : INZ000043833