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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias as it closed with 0.57% cut at 18182 level. Banking index performed in line with the benchmark index as it closed with 0.47% cut at 43699 level.

* India VIX closed with 1.41% cut at 13.10 level.

* Among Sectors FMCG index outperformed the benchmark index as it closed with 0.06% gain while REALTY index underperformed as it closed with 1.33% cut. Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.16% cut and 0.25% gains respectively.

* Advance/Decline ratio was in favour of declines 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) and US markets (DJIA) closed higher yesterday. Asian Markets are following suit and largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to open higher on the back of favourable global cues and trade volatile today. Index has support at 18100 - 18050 level and resistance at 18300 – 18350 level

* Banking index is likely to trade in line with the benchmark index today with support at 43400 - 43200 level and resistance at 44100 - 44300 level.

* PERSISTENT has closed above 21EMA with bullish candlestick and it is likely to trade with positive bias today as well.

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