IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded volatile on Friday before closing with 0.44% gain at 22055 level. Banking index underperformed the benchmark index as it closed with 0.14% cut at 47421 level.

*  India VIX closed with 1.50% gain at 18.47 level.

* Among Sectors NIFTYENERGY index performed better than the benchmark index as it closed with 1.64% gain while NIFTYIT index underperformed as it closed with 0.82% cut.

* Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.86% and 0.69% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was lower 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 higher on Friday. Asian Markets are trading mixed today.

Intraday Market Outlook

*  Benchmark index is likely to trade volatile today. Index has support at 21900 - 21800 level and resistance at 22200 - 22300 level.

* Banking index is likely to trade in line with the benchmark index today with support at 46900 - 46600 level and resistance at 47900 - 48200 level.

* HINDUNILVR has closed with bullish candlestick 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