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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.21% gain at 17559 level. Banking index performed in line with the benchmark index as it closed with 0.09% gain at 38987 level

* India VIX closed with 6.90% cut at 18.22 level

* Among Sectors, METAL and PSE index outperformed the benchmark index as they closed with 1.77% and 1.46% gains while MEDIA and REALTY index were the laggards as they closed with 0.66% and 0.37% cut. Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.55% and 0.70% gains respectively

* Advance/Decline ratio was in favour of advances and cash turnover was lower 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 with sharp cuts on Friday. Asian Markets are following suit and trading lower today.

Intraday Market Outlook

* Benchmark index is likely to open gap down on the back of weak global cues and trade with negative bias today with support at   17300 - 17150 level and resistance at 17600 - 17700 level

* Banking index is likely to trade in line with the benchmark index today with support at 38200 - 37800 level and resistance at 39000     39300 level

* GUJGASLTD has closed with bearish candlestick formation below 21 EMA and it is likely to continue its negative price action today     as well.

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