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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias before closing with 1.78% gain at 18350 level. Banking index lagged the benchmark index as it closed with 1.28% gain at 42137 level.

* India VIX closed with 7.47% cut at 14.40 level.

* Among Sectors, IT index outperformed the benchmark index as it closed with 3.81% gain while AUTO and PSU BANK index underperformed the benchmark index as they closed with 0.30% and 0.67% cut respectively. Broader market lagged the benchmark index as MIDCAP and SMALLCAP index closed with 0.15% and 0.33% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was higher than 5-day average. Both FII and DII were net buyers in the cash segment

* European markets (DAX) and US markets (DJIA) closed higher on Friday. However, Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to consolidate today post sharp up move in previous trading session. Index has support at 18250 - 18200 level and resistance at 18450 – 18500 level .

* Banking index is likely to trade in line with benchmark index today with support at 41800 - 41600 level and resistance at 42500 - 42700 level.

* INFY has closed above 21EMA with bullish candlestick formation and is likely to continue its positive momentum today as well.

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