Benchmark index is likely to trade with mild positive bias 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 volatile on monthly expiry before closing with 0.40% gain at 25151 level yesterday. Banking index underperformed the benchmark index as it closed flat at 51152 level.
* India VIX closed with 1.16% cut at 13.78 level.
* Among Sectors NIFTYFMCG outperformed the benchmark index as it closed with 0.72% gain while NIFTYMETAL and NIFTYPHARMA index underperformed as they closed with 0.48% cut each
* Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.44% and 0.54% cut respectively.
* Advance/Decline ratio was in favour of advances and cash turnover was higher 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 yesterday. Asian Markets are largely trading higher today.
Intraday Market Outlook
* Benchmark index is likely to trade with mild positive bias today. Index has support at 25050 - 25000 level and resistance at 25300 - 25350 level.
* Banking index is likely to outperform the benchmark index today with support at 50800 - 50600 level and resistance at 51700 - 51900 level.
* IOC 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
![](https://portfolio.investmentguruindia.com/uploads/news/Funding.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Myntra_trent.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/FPI_09.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker_87.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Krishna Appala.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Alchemy Capital Management.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker_88.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/broker_1.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
Weekly Note by Mr. Ajit Mishra, SVP - Research, Religare Broking Ltd
![Market Quote : Global markets are currently resonating with the US Fed`s pledges of a rate cut in September says Vinod Nair, Head of Research, Geojit Financial Services](https://portfolio.investmentguruindia.com/uploads/news/Broker_87.jpg)
![Quote on Market by Krishna Appala, Sr. Research Analyst, Capitalmind Research](https://portfolio.investmentguruindia.com/uploads/news/Krishna Appala.jpg)
![Daily Market Commentary : Nifty traded in positive territory throughout the session on the last day of the month and made a fresh high above 25200 levels Says Mr. Siddhartha Khemka, Motilal Oswal](https://portfolio.investmentguruindia.com/uploads/news/Broker_88.jpg)