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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.67% gain at 17100 level. Banking index traded in line with the benchmark index as it closed with 1.19% gain at 39598 level.

* India VIX closed with 8.94% cut at 14.77 level.

* Among Sectors REALTY and METAL index outperformed the benchmark index as they closed with 3.03% and 2.39% gains respectively while MEDIA index underperformed as it closed with 0.88% cut. Broader market traded in line with the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.29% and 0.69% 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 lower on Friday. Asian Markets are following suit and largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to open lower following unfavourable global cues and trade volatile today. Index has support at 16950 - 16850 level and resistance at 17200 – 17300 level.

* Banking index is likely to trade in line with benchmark index today with support at 39200 - 39000 level and resistance at 40000 - 40200 level.

* MARUTI has closed below 21EMA with bearish candlestick and it is likely to trade with negative bias today as well.

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