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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias as it closed with 0.61% cut at 18286 level. Banking index performed slightly better than the benchmark index as it closed with 0.38% cut at 43904 level.

* India VIX closed with 0.91% gain at 13.29 level.

* Among Sectors PSUBANK index outperformed the benchmark index as it closed with 0.72% gain while MEDIA index underperformed as it closed with 1.38% cut. Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.18% and 0.12% gains respectively.

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

* European markets (DAX) and US markets (DJIA) closed lower yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade with mild negative bias today with support at 18150 - 18100 level and resistance at 18350 – 18400 level.

* Banking index is likely to trade in line with the benchmark index today with support at 43500 - 43300 level and resistance at 44200 - 44400 level.

* MARUTI has closed with bearish candlestick and it is likely to trade with negative bias today as well.

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