India VIX closed with 4.53% cut at 13.47 level - Monarch Networth Capitals
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
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Benchmark index is likely to trade with mild positive bias today - Monarch Networth Capital Ltd
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