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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias before closing with 1.32% cut at 18415 level. Banking index traded in line with benchmark index as it closed with 1.25% cut at 43498 level.

* India VIX closed with 6.58% gain at 13.73 level.

* Among Sectors IT and MEDIA underperformed the benchmark index as they closed with 2.11% and 2.08% cut respectively. Broader market performed slightly better than the benchmark index as both MIDCAP and SMALLCAP index closed with 1.05% and 0.61% cut 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) and US markets (DJIA) closed lower yesterday. Asian Markets are following suit and trading lower today.

Intraday Market Outlook

* Benchmark index is likely to open lower and trade volatile today. Index has support at 18250 - 18200 level and resistance at 18500 – 18550 level.

* Banking index is likely to trade in line with benchmark index today with support at 43000 - 42700 level and resistance at 43700 - 44000 level.

* TECHM has closed below 21day EMA with bearish candlestick and it is likely to continue its negative momentum today as well.

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