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TECHNICAL OUTLOOK

* Benchmark index traded volatile today before closing with 0.13% gain at 18267 level. Banking index outperformed the benchmark index as it closed with 0.64% gain at 42729 level.

* India VIX closed with 1.44% gain at 14.04 level.

* Among Sectors, MEDIA index outperformed the benchmark index as it closed with 1.14% gain while METAL and IT index underperformed the benchmark index as they closed with 0.40% and 0.14% cut respectively. Broader market performed slightly better than the benchmark index as MIDCAP and SMALLCAP index closed with 0.20% and 0.54% gain respectively.

* Advance/Decline ratio was equal at 1:1 and cash turnover was higher than 5-day average. FII were net sellers and DII were net buyers in the cash segment.

* European markets (DAX) and US markets (DJIA) closed higher yesterday. Asian Markets are following suit and trading higher today.

Intraday Market Outlook

* Benchmark index is likely to open higher on the back of supportive global cues and trade with mild positive bias on monthly expiry day. Index has support at 18200 - 18150 level and resistance at 18400 – 18450 level.

* Banking index is likely to trade in line with benchmark index today with support at 42500 - 42300 level and resistance at 43000 - 43200 level.

* BAJFINANCE closed with reversal pattern, and it is likely to continue its positive momentum today as well.

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