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Benchmark index traded with positive bias yesterday before closing with 0.62% gain at 23869 level - Monarch Networth Capital Ltd
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TECHNICAL OUTLOOK
* Benchmark index traded with positive bias yesterday before closing with 0.62% gain at 23869 level. Banking index performed in line with the benchmark index as it closed with 0.50% gain at 52870 level.
* India VIX closed with 1.87% cut at 14.04 level.
* Among Sectors NIFTYMEDIA index performed better than the benchmark index as it closed with 1.60% gain while NIFTYREALTY index underperformed as it closed with 1.77% cut.
* Broader market traded mixed as MIDCAP index closed with 0.22% cut while SMALLCAP index closed with 0.25% gain.
* 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) closed lower while US markets (DJIA) closed flat yesterday. Asian Markets are largely trading lower today. Intraday Market Outlook
* Benchmark index is likely to trade volatile on June monthly expiry today. Index has support at 23700 - 23650 level and resistance at 23950 - 24000 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.
* HINDUNILVER 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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