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MARKET OVERVIEW

* Benchmark index traded on negative bias before closing with 0.34% cut at 18083 level. Banking index traded in line with benchmark index as it closed with 0.35% cut at 41147 level.

* India VIX closed with 3.30% gain at 16.66 level.

* Among Sectors, MEDIA index outperformed the benchmark index as it closed with 0.85% gain while PSU BANK and REALITY index underperformed the benchmark index as they closed with 0.80% cut each respectively. Broader market lagged the benchmark index as MIDCAP index closed with 0.12% cut while SMALLCAP closed with 0.23% gain.

* Advance/Decline ratio was in favour of declines and FII were net buyers while DII were net sellers in the cash segment.

* European markets (DAX) closed lower while US markets (DJIA) gave up all the gains and closed in negative territory post Fed chairman press conference yesterday. Asian Markets are following suit and trading lower today.

Intraday Market Outlook

* Benchmark index is likely to open lower following weak global cues and likely to trade volatile today. Index has support at 17900 - 17800 level and resistance at 18100 - 18200 level

* Banking index is likely to trade in line with benchmark index today with support at 40500 - 40300 level and resistance at 41200 - 41400 level.

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

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