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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias as it closed with 0.85% gain at 17872 level. Banking index underperformed the benchmark index as it closed with 0.11% gain at 41538 level.

* India VIX closed with 3.75% cut at 13.59 level.

* Among Sectors METAL index outperformed the benchmark index as it closed with 3.78% gain while FMCG index underperformed the benchmark index as it closed with 0.03% gain. Broader market traded in line with benchmark index as both MIDCAP and SAMLLCAP index closed with 1.00% gain and 0.76% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was lower than 5-day average. FII were net sellers while DII were net buyers in the cash segment ? European markets (DAX) closed higher while US markets (DJIA) closed lower yesterday. Asian Markets are trading mixed today

Intraday Market Outlook

* Benchmark index is likely to trade volatile on weekly expiry day with support at 17750 - 17650 level and resistance at 18000 – 18050 level

* Banking index is likely to trade in line with benchmark index today with support at 41100 - 40800 level and resistance at 41900 - 42200 level.

* RELIANCE has closed with reversal candlestick and it is likely to continue its positive momentum today as well.

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