TataSteel closed with bullish candlestick pattern and it is likely to trade with positive bias today - Monarch Networth Capital Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
TECHNICAL OUTLOOK
* Benchmark index traded with positive bias before closing with 1.76% gains at 24835 level. Banking index underperformed the benchmark index as it closed with 0.80% gains at 51296 level.
* India VIX closed with 2.93% cut at 12.24 level.
* Among Sectors NIFTYMETAL index performed better than the benchmark index as it closed with 3.01% gain while NIFTYFMCG index underperformed as it closed with 0.95% gain.
* Broader market performed in line with the benchmark index as both MIDCAP index and SMALLCAP index closed with 1.81% and 0.97% gains respectively.
* Advance/Decline ratio was in favour of advances and cash turnover was lower than 5-day average. Both FII and DII were net buyers in the cash segment.
* European markets (DAX) and US markets (DJIA) closed higher on Friday. Asian Markets are following suit and trading higher today.
Intraday Market Outlook
* Benchmark index is likely to open higher following supportive global cues and trade with positive bias today. Index has support at 24750 - 24700 level and resistance at 25000 - 25100 level.
* Banking index is likely to trade in line with the benchmark index today with support at 51100 - 50900 level and resistance at 52000 - 52200 level.
* TATASTEEL closed with bullish candlestick pattern 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
