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TECHNICAL OUTLOOK

* Benchmark index traded on a positive note before closing with 1.13% gain at 15990 level. Banking index outperformed the benchmark index as it closed with 1.50% gain at 34324 level

* India VIX closed with 2.50% cut at 20.27 level ? Among Sectors, FMCG and AUTO index outperformed the benchmark index as they closed with 2.64% and 2.60% gains while PSE and ENERGY index were the laggards as they closed with 0.73% and 0.62% cut respectively. Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 1.90% and 0.49% gains respectively.

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

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to open higher and trade volatile on weekly expiry day. Index has support at 15900 - 15800 level and resistance at 16100- 16200 level.

* Banking index is likely to trade in line with the benchmark index today with support at 34000 - 33700 level and resistance at 34700 - 35000 level.

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

BANK NIFTY (Daily) Chart

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