IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday before closing with 0.50% gain at 21255 level. Banking index performed better then the benchmark index as it closed with 0.83% gain at 47840 level.

* India VIX closed with 4.79% cut at 13.75 level.

* Among Sectors NIFTYMEDIA index performed better than the benchmark index as it closed with 2.49% gain while NIFTYAUTO index underperformed as it closed with 0.08% gain.

* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 1.61% and 1.69% gain respectively.

* 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) closed lower while US markets (DJIA) closed higher yesterday. Asian Markets are largely trading higher today

Intraday Market Outlook

* Benchmark index is likely to open higher and trade volatile today. Index has support at 21100 - 21050 level and resistance at 21400 – 21450 level.

* Banking index is likely to trade in line with benchmark index today with support at 47500 - 47300 level and resistance at 48200 - 48400 level.

* HDFCBANK 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