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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias as it closed with 0.97% gain at 18499 level. Banking index lagged the benchmark index as it closed with 0.77% gain at 44018 level.

* India VIX closed with 4.95% cut at 11.90 level.

* Among Sectors MEDIA index outperformed the benchmark index as it closed with 2.24% gain while NIFTYPSE index underperformed as it closed flat.

* Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.82% and 0.49% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was lower 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. Asian Markets are following suit and trading higher today.

Intraday Market Outlook

* Benchmark index is likely to open gap up following favourable global cues and trade with positive bias today. Index has support at 18400 - 18350 level and resistance at 18700 – 18750 level.

* Banking index is likely to trade in line with the benchmark index today with support at 43800 - 43600 level and resistance at 44500 - 44700 level.

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

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