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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.26% cut at 17660 level. Banking index performed slightly better than the benchmark index as it closed with 0.01% gain at 42265 level.

* India VIX closed with 1.55% cut at 12.07 level.

* Among Sectors PHARMA index outperformed the benchmark index as it closed with 1.64% gain while ENERGY index underperformed as it closed with 0.65% cut. Broader market outperformed the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.52% and 0.22% 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) closed lower yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today with support at 17550 - 17500 level and resistance at 17750 – 17800 level.

* Banking index is likely to trade in line with the benchmark index today with support at 42000 - 41800 level and resistance at 42600 - 42800 level.

* CIPLA has closed above 21EMA with bullish candlestick and it is likely to trade with positive bias today as well.

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