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TECHNICAL OUTLOOK

* Benchmark index closed with 0.38% gain at 17813 level. Banking index outperformed the benchmark index as it closed with 0.67% gain at 37740 level

* India VIX closed with 2.11% cut at 17.60 level

* Among Sectors, ENERGY and PSE index outperformed the benchmark index as they closed with 0.89% and 0.87% gains while MEDIA and PHARMA index underperformed as they closed with 0.83% and 0.39% cut respectively. Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed 0.50% and 0.37% gains respectively.

* Advance/Decline ratio was in favour of advances 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) closed lower while US markets (DJIA) closed flat yesterday. Asian Markets are largely trading higher today

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 17700 - 17600 level and resistance at 17950 - 18050 level.

* Banking index is likely to trade in line with benchmark index today with support at 37400 - 37200 level and resistance at 38200 - 38400 level.

* TCS has closed with bullish candlestick formation with above average volumes. It is likely to continue its positive momentum today as well

BANK NIFTY (Daily) Chart

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