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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias as it closed with 0.81% cut at 18160 level. Banking index performed better than the benchmark index as it closed with 0.21% cut at 42347 level.

* India VIX closed with 2.83% gain at 14.79 level.

* Among Sectors, PSUBANK index outperformed the benchmark index as it closed with 1.41% gain while IT and ENERGY index underperformed the benchmark index as they closed with 1.55% and 1.31% cut respectively. Broader market traded better than benchmark index as MIDCAP closed with 0.15% cut while SMALLCAP index closed with 0.01% gain respectively.

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

* European markets (DAX) and US markets (DJIA) closed lower yesterday. However, Asian Markets are largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 18100 - 18000 level and resistance at 18300 – 18400 level

* Banking index is likely to trade in line with benchmark index today with support at 42100 - 41900 level and resistance at 42700 - 42900 level.

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

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