IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded with positive bias as it closed with 1.89% gain at 25389 level yesterday. Banking index performed in line with the benchmark index as it closed with 1.49% gain at 51772 level ? India VIX closed with 3.27% cut at 13.18 level

* Among Sectors NIFTYMETAL outperformed the benchmark index as it closed with 2.91% gain.

* Broader market lagged the benchmark index as both MIDCAP100 and SMALLCAP100 index closed with 1.19% and 1.01% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was higher than 5-day average. FII were net buyers while DII were net sellers in the cash segment.

* Both European markets (DAX) and US markets (DJIA) closed higher yesterday. Asian Markets are largely trading with positive bias today.

Intraday Market Outlook

* Benchmark index is likely to trade with positive bias today. Index has support at 25300 - 25250 level and resistance at 25500 - 25550 level.

* Banking index is likely to perform in line with benchmark index today with support at 51400 - 51200 level and resistance at 52300 - 52500 level.

* HINDALCO 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