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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.25% gain at 17649 level. Banking index traded in line with the benchmark index as it closed with 0.10% gain at 40387 level

* India VIX closed with 2.25% gain at 17.71 level.

* Among Sectors IT index outperformed the benchmark index as it closed with 1.10% gain while ENERGY index underperformed the benchmark index as it closed with 3.04% cut. Broader market lagged the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.22% and 0.10% cut respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was higher 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 trading mixed today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 17550 - 17450 level and resistance at 17850 – 17950 level

* Banking index is likely to trade in line with benchmark index today with support at 39900 - 39600 level and resistance at 41000 - 41400 level.

* RELIANCE has closed with bullish candlestick and it is likely to continue its positive momentum today as well.

BANK NIFTY (Daily) Chart

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