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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.26% gain at 18609 level. Banking index outperformed the benchmark index as it closed with 0.1.16% cut at 43597 level.

* India VIX closed with 4.83% cut at 13.39 level.

* Among Sectors, PSUBANK index outperformed the benchmark index as it closed with 3.81% gain while PHARMA and REALTY underperformed the benchmark index as they closed with 1.10% and 0.78% cut respectively. Broader market lagged the benchmark index as both MIDCAP and SMALLCAP index closed with 0.43% and 0.44% cut 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 higher yesterday. Asian Markets are largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today with support at 18550 - 18500 level and resistance at 18750 – 18800 level

* Banking index is likely to trade in line with benchmark index today with support at 43300 - 43100 level and resistance at 44000 - 44200 level.

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

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