IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday before closing with 0.10% gain at 21839 level. Banking index underperformed the benchmark index as it closed with 0.16% cut at 46310 level. 

* India VIX closed with 4.53% cut at 13.47 level.

* Among Sectors NIFTYENERGY index performed better than the benchmark index as it closed with 1.07% gain while NIFTYMETAL index underperformed as it closed with 0.79% cut. 

* Broader market performed mixed as MIDCAP index closed with 0.01% cut while SMALLCAP index closed with 0.05% 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) and US markets (DJIA) closed higher yesterday. Asian Markets are following suit and trading higher today.

Intraday Market Outlook

* Benchmark index is likely to open higher following favourable global cues and trade with positive bias today. Index has support at 21850 - 21800 level and resistance at 22050 - 22150 level. 

* Banking index is likely to trade in line with the benchmark index today with support at 46300 - 46100 level and resistance at 46900 - 47100 level.

* RELIANCE 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