IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded volatile on Friday before closing with 0.69% gain at 22147 level. Banking index outperformed the benchmark index as it closed with 1.07% gain at 47574 level.

* India VIX closed with 3.20% gain at 13.45 level.

* Among Sectors FINNIFTY index performed better than the benchmark index as it closed with 1.31% gain and NIFTYMEDIA index underperformed as it closed with 1.02% cut.

* Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.61% and 0.10% cut respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was lower than 5-day average. FII were net buyers while DII were net sellers in the cash segment.

* European markets (DAX) closed lower while US markets (DJIA) closed higher on Friday. Asian Markets are trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade with positive bias today. Index has support at 22050 - 22000 level and resistance at 22350 - 22400 level.

* Banking index is likely to trade in line with the benchmark index today with support at 47300 - 47100 level and resistance at 48000 - 48200 level.

* ITC 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