IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded volatile on Friday before closing with 0.76% cut at 22476 level. Banking index performed in line with the benchmark index as it closed with 0.62% cut at 48923 level.

* India VIX closed with 8.72% gain at 14.61 level.

* Among Sectors NIFTYPSE index performed better than the benchmark index as it closed with 0.46% gain while NIFTYREALTY index underperformed as it closed with 1.03% cut.

* Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.35% and 0.49% cut respectively.

* Advance/Decline ratio was in favour of declines and cash turnover was higher 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 largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to open higher on favourable global cues and trade volatile today. Index has support at 22450 - 22400 level and resistance at 22700 - 22800 level.

* Banking index is likely to trade in line with the benchmark index today with support at 48700 - 48500 level and resistance at 49500 - 49700 level.

* ICICIBANK witnessed recovery from lows in last hour of trading 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