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TECHNICAL OUTLOOK

* Benchmark index traded volatile on monthly expiry before closing with 0.76% gain at 17080 level. Banking index performed better than the benchmark index as it closed with 0.86% gain at 39910 level.

* India VIX closed with 9.75% cut at 13.62 level.

* Among Sectors AUTO index performed better than the benchmark index as it closed with 1.71% gain while ENERGY index underperformed as it closed with 0.07% cut. Broader market outperformed the benchmark index as both MIDCAP and SAMLLCAP index closed with 1.67% and 1.68% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was higher than 5-day average. Both FII and 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 positive bias today with support at 17000 - 16950 level and resistance at 17250 – 17300 level

* Banking index is likely to trade in line with the benchmark index today with support at 39700 - 39500 level and resistance at 40400 - 40600 level.

* RELIANCE has closed with bullish candlestick and it is likely to trade with positive bias today as well.

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