India VIX closed with 6.83% gain at 23.19 level - Monarch Networth Capital Ltd
TECHNICAL OUTLOOK
* 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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