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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.18% cut at 17624 level. Banking index underperformed the benchmark index as it closed with 0.53% cut at 39456 level

* India VIX closed with 0.82% cut at 19.37 level

* Among Sectors, MEDIA and PHARMA index outperformed the benchmark index as they closed with 1.46% and 0.78% gains while AUTO and ENERGY index underperformed as they closed with 1.15% and 0.60% cut respectively. Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.50% and 0.78% gains respectively.

* Advance/Decline ratio was similar at 1:1 and cash turnover was higher than 5- day average. FII were net buyers while DII were net sellers in the cash segment ? European markets (DAX) and US markets (DJIA) closed higher yesterday. Asian Markets are trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade with positive bias today with support at 17550 - 17450 level and resistance at 17800 - 17900 level

* Banking index is likely to trade in line with the benchmark index today with support at 39200 - 39000 level and resistance at 39900 - 40200 level

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

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