Benchmark index traded volatile yesterday before closing with 0.74% gain at 24044 level - Monarch Networth Capital Ltd
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TECHNICAL OUTLOOK
* Benchmark index traded volatile yesterday before closing with 0.74% gain at 24044 level. Banking index underperformed the benchmark index as it closed with 0.11% cut at 52811 level.
* India VIX closed with 0.77% gain at 14.15 level.
* Among Sectors NIFTYIT index performed better than the benchmark index as it closed with 2.03% gain while NIFTYMEDIA index underperformed as it closed with 1.35% cut.
* Broader market traded mixed as MIDCAP index closed with 0.32% gain while SMALLCAP index closed with 0.67% cut.
* 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.
* 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 open higher and trade volatile today. Index has support at 23900 - 23850 level and resistance at 24200 - 24250 level.
* Banking index is likely to trade in line with the benchmark index today with support at 52400 - 52200 level and resistance at 53200 - 53400 level.
* TCS closed with bullish candlestick pattern and it is likely to trade with positive bias today
NIFTY (Daily) Chart
BANK NIFTY (Daily) Chart
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