28-05-2024 08:59 AM | Source: Monarch Networth Capital Ltd
India VIX closed with 6.83% gain at 23.19 level - Monarch Networth Capital Ltd

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* Benchmark index traded volatile yesterday before closing with 0.11% cut at 22932 level. Banking index outperformed the benchmark index as it closed with 0.63% gain at 49282 level.

* India VIX closed with 6.83% gain at 23.19 level.

* Among Sectors NIFTYPSUBANK index performed better than the benchmark index as it closed with 1.33% gain while NIFTYMEDIA index underperformed as it closed with 0.97% cut.

* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.64% and 0.81% gains respectively.

* Advance/Decline ratio was in favour of declines 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 higher while US markets (DJIA) were closed due to holiday yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 22800 - 22700 level and resistance at 23100 - 23200 level.

* Banking index is likely to trade in line with the benchmark index today with support at 48900 - 48600 level and resistance at 49700 - 50000 level.

* HINDUNILVER closed with positive candlestick pattern and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart


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