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TECHNICAL OUTLOOK

* Benchmark index traded volatile on weekly expiry before closing with 0.93% gain at 15557 level. Banking index lagged the benchmark index as it closed with 0.88% gain at 33135 level

* India VIX closed with 1.97% cut at 20.88 level

* Among Sectors, AUTO and IT index outperformed the benchmark index as they closed with 4.39% and 1.96% gains while ENERGY and PSE index were the laggards as they closed with 0.42% and 0.03% cut respectively. Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 1.21% and 1.31% gain.

* 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) recovered and closed near day’s high yesterday. Asian Markets are following suit and trading higher today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today with support at 15450 - 15350 level and resistance at 15700 - 15800 level.

* Banking index is likely to trade in line with the benchmark index today with support at 32800 - 32500 level and resistance at 33600 - 33900 level.

* ASHOKLEY has closed with bullish candlestick formation above 21 EMA and it is likely to continue its positive momentum today as well.

BANK NIFTY (Daily) Chart

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