IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded with negative bias on thursday before closing with 0.47% cut at 21352 level. Banking index traded in line with the benchmark index as it closed with 0.48% cut at 44866 level.

* India VIX closed with 3.55% cut at 13.86 level.

* Among Sectors NIFTYENERGY index performed better than the benchmark index as it closed with 0.88% gain while NIFTYIT index underperformed as it closed with 1.60% cut.

* Broader market traded mixed as MIDCAP index closed with 0.36% cut while SMALLCAP index closed with 0.54% gain.

* 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.

* Both European markets (DAX) and US markets (DJIA) closed higher on Friday. Asian Markets are trading with positive bias today.

Intraday Market Outlook

* Benchmark index is likely to follow favourable global cues and trade with positive bias today. Index has support at 21300 - 21250 level and resistance at 21550 – 21600 level.

* Banking index is likely to trade in line with benchmark index today with support at 44700 - 44500 level and resistance at 45300 - 45500 level.

* ICICIBANK has closed with bullish candlestick and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Charts

Please refer disclaimer at https://www.mnclgroup.com/disclaimer

SEBI Registration Number : INZ000043833