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TECHNICAL OUTLOOK

* Benchmark index traded rangebound as it closed flat at 18118 level. Banking index lagged benchmark index as it closed with 0.21% cut at 42733 level.

* India VIX closed with 0.29% gain at 13.65 level.

* Among Sectors AUTO index outperformed the benchmark index as it closed with 1.28% gain while PSUBANK index underperformed the benchmark index as it closed with 1.36% cut. Broader market lagged the benchmark index as MIDCAP and SAMLLCAP index closed with 0.30% and 0.43% 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) closed with minor cut while US markets (DJIA) closed higher yesterday. Asian Markets are trading mixed today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile on monthly expiry today with support at 18000 - 17950 level and resistance at 18250 – 18300 level

* Banking index is likely to trade in line with benchmark index today with support at 42400 - 42200 level and resistance at 43000 - 43200 level.

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

BANK NIFTY (Daily) Chart

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