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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias yesterday as it closed with 0.70% gain at 19322 level. Banking index performed better than the benchmark index as it closed with 0.92% gain at 45158 level.

* India VIX closed with 6.85% cut at 11.54 level.

* Among Sectors PSUBANK index outperformed the benchmark index as it closed with 3.61% gain while PHARMA index underperformed as it closed with 1.11% cut.

* Broader market lagged the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.30% and 0.56% gains respectively.

* Advance/Decline ratio was in favour of declines and cash turnover was lower than 5-day average. FII were net buyers while DII were net sellers in the cash segment. ? European markets (DAX) closed lower while US markets (DJIA) closed higher yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today with support at 19200 - 19150 level and resistance at 19450 – 19500 level

* Banking index is likely to trade in line with the benchmark index today with support at 44800 - 44600 level and resistance at 45500 - 45700 level.

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

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