Benchmark index traded range bound on Friday before closing with 0.22% cut at 21731 level - Monarch Networth Capital
TECHNICAL OUTLOOK
* Benchmark index traded range bound on Friday before closing with 0.22% cut at 21731 level. Banking index lagged the benchmark index as it closed with 0.45% cut at 48292 level.
* India VIX closed with 4.21% cut at 14.50 level.
* Among Sectors NIFTYAUTO index performed better than the benchmark index as it closed with 1.14% gain while NIFTYENERGY index underperformed as it closed with 0.75% cut.
* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.85% and 0.69% gains respectively.
* Advance/Decline ratio was in favour of declines and cash turnover was higher than 5-day average. Both FII and DII were net buyers in the cash segment.
* European markets (DAX) closed higher while US markets (DJIA) closed flat on Friday. Asian Markets are shut today due to holiday.
Intraday Market Outlook
* Benchmark index is likely to trade volatile today with support at 21600 - 21550 level and resistance at 21850 – 21900 level.
* Banking index is likely to trade in line with benchmark index today with support at 48000 - 47800 level and resistance at 48600 - 48800 level.
* ABBOTINDIA has closed with bullish candlestick and it is likely to trade with positive bias today.
NIFTY (Daily) Chart
BANK NIFTY (Daily) Chart
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