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TECHNICAL OUTLOOK

* Benchmark index closed with 0.83% cut at 18267 level. Banking index performed better than the benchmark index as it closed with minor 0.06% cut at 39518 level.

* India VIX closed with 5.35% gain at 18.31 level

* Among Sectors, PSUBANK and MEDIA indices outperformed the benchmark index as they closed with 1.54% and 1.03% gains while REALTY and METAL indices lagged as they closed with 2.16% and 2.06% cut respectively. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 2.15% and 2.43% cut respectively.

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

* European markets (DAX) closed flat while US markets (DJIA) closed higher yesterday. Asian markets are trading rangebound today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile on weekly expiry day with support at 18150 - 18050 level and resistance at 18400 - 18500 level

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

* METROPOLIS has closed above previous swing high with bullish candlestick formation accompanied with strong volumes. Stock is trading above 21 EMA and it is likely to continue its upside momentum today as well

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