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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias as it closed with 0.56% gain at 17722 level. Banking index outperformed the benchmark index as it closed with 1.30% gain at 41366 level.

* India VIX closed with 2.42% cut at 11.97 level.

* Among Sectors METAL index outperformed benchmark index as it closed with 1.76% gain while IT index underperformed as it closed with 1.26% cut. Broader market performed in line with the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.40% and 0.62% gains respectively.

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

* European markets (DAX) and US markets (DJIA) closed higher yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today ahead of key US inflation data. Index has support at 17650 - 17600 level and resistance at 17800 – 17850 level.

* Banking index is likely to trade in line with the benchmark index today with support at 41000 - 40800 level and resistance at 41800 - 42000 level.

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

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