IGI Logo

TECHNICAL OUTLOOK

* Benchmark index traded with positive bias yesterday as it closed with 0.93% gain at 22097 level. Banking index traded in line with the benchmark index as it closed with 0.94% gain at 48158 level.

* India VIX closed with 5.23% gain at 13.78 level.

* Among Sectors NIFTYIT index performed better than the benchmark index as it closed with 1.86% gain while NIFTYMEDIA index underperformed as it closed with 1.90% cut.

* Broader market lagged the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.67% and 0.11% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was higher 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) was shut due to holiday yesterday. Asian Markets are largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 22000 - 21950 level and resistance at 22200 – 22250 level.

* Banking index islikely to trade in line with benchmark index today with support at 47900 - 47700 level and resistance at 48500 - 48700 level.

* HINDUNILVR 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