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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.57% gain at 17915 level. Banking index performed in line with the benchmark index as it closed with 0.40% gain at 43000 level.

* India VIX closed with 1.95% cut at 11.42 level.

* Among Sectors REALTY index outperformed the benchmark index as it closed with 1.53% gain while FMCG index underperformed as it closed with 0.06% cut. Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.52% and 0.62% gains respectively.

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

* European markets (DAX) closed with minor gain while US markets (DJIA) closed higher yesterday. Asian Markets are following suit and largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade with positive bias today with support at 17850 - 17800 level and resistance at 18050 – 18100 level.

* Banking index is likely to trade in line with the benchmark index today with support at 42800 - 42600 level and resistance at 43400 - 43600 level.

* RELIANCE has closed above 21EMA with bullish candlestick and it is likely to trade with positive bias today as well.

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