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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.19% cut at 18385 level. Banking index traded in line with the benchmark index as it closed with 0.12% cut at 43360 level.

* India VIX closed with 1.68% gain at 13.78 level.

* Among Sectors IT index outperformed the benchmark index as it closed with 0.20% gain while REALTY and MEDIA underperformed the benchmark index as they closed with 1.21% and 0.81% cut respectively. Broader market traded in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.27% and 0.02% 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 buyers in the cash segment

* European markets (DAX) closed lower while US markets (DJIA) closed higher yesterday. Asian Markets are largely trading positive today.

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today with support at 18300 - 18250 level and resistance at 18500 – 18550 level

* Banking index is likely to trade in line with benchmark index today with support at 43100 - 42900 level and resistance at 43800 - 44000 level.

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

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