IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded with positive bias before closing with 1.04% gain at 24367 level on Friday. Banking index underperformed the benchmark index as it closed with 0.65% gain at 50484 level.

* India VIX closed with 7.63% cut at 15.33 level.

* Among Sectors NIFTYPSUBANK index performed better than the benchmark index as it closed with 1.92% gain while NIFTYFMCG index underperformed as it closed with 0.19% gain.

* Broader market performed in line with the benchmark index as both MIDCAP index and SMALLCAP closed with 0.87% and 0.56% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was lower than 5-day average. Both FII and 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 trade volatile today. Index has support at 24200 - 24150 level and resistance at 24500 - 24550 level.

* Banking index is likely to trade in line with the benchmark index today with support at 50000 - 49800 level and resistance at 50900 - 51100 level.

* RELIANCE closed with bullish candlestick pattern 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