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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.74% cut at 17860 level. Banking index lagged the benchmark index as it closed with 0.99% cut at 42188 level.

* India VIX closed with 0.28% gain at 15.02 level.

* Among Sectors FMCG index performed better than the benchmark index as it closed with 0.03% gain while IT and PSUBANK underperformed the benchmark index as they closed with 2.00% and 0.84% cut respectively. Broader market traded in line with the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.72% and 0.73% cut respectively.

* Advance/Decline ratio was in favour of declines 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 on Friday. Asian Markets are following suit and trading higher today.

Intraday Market Outlook

* Benchmark index is likely to open higher following supportive global cues and trade with positive bias today. Index has support at 17850 - 17800 level and resistance at 18100 – 18200 level

* Banking index is likely to trade in line with benchmark index today with support at 42200 - 42000 level and resistance at 42800 - 43000 level.

* BAJAJ-AUTO has closed above 21day EMA with bullish candlestick and it is likely to continue its positive momentum today as well.

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