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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias as it closed with 1.03% cut at 17914 level. Banking index lagged the benchmark index as it closed with 1.33% cut at 42015 level.

* India VIX closed with 5.85% gain at 15.51 level.

* Among Sectors AUTO index outperformed the benchmark index as it closed with 0.28% gain while PSUBANK index underperformed the benchmark index as it closed with 2.67% cut. Broader market performed better than the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.49% and 0.46% cut respectively.

* Advance/Decline ratio was in favour of declines 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 lower while US markets (DJIA) closed higher yesterday. Asian Markets are largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 17800 - 17750 level and resistance at 18050 – 18100 level

* Banking index is likely to trade in line with benchmark index today with support at 41700 - 41500 level and resistance at 42400 - 42600 level.

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

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