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MARKET OVERVIEW

* Benchmark index traded with positive bias as it closed with 0.82% gain at 17123.60 level. Banking index performed better than the benchmark index as it closed with 1.05% gain at 39118.55 level.

* India VIX closed with 1.54% cut at 20.17 leve

* Among Sectors, REALTY index outperformed the benchmark index as it closed with 1.62% gain. While MEDIA index underperformed the benchmark index as closed with 0.07% cut. Broader market lagged the benchmark index as both MIDCAP and SMALLCAP index closed with 0.66% and 0.22% 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) and US markets (DJIA) closed lower yesterday. Asian Markets are trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 17000 - 16900 level and resistance at 17200 - 17300 level

* Banking index is likely to trade in line with benchmark index today with support at 38800 - 38500 level and resistance at 39400 - 39700 level

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

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