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TECHNICAL OUTLOOK

* Benchmark index opened gap up and traded higher before closing with 0.64% gain at 15436 level. Banking index underperformed the benchmark index as it closed with 0.13% gain at 35141 level

* India VIX closed with 12.61% cut at 17.40 level

* Among Sectors, ENERGY and INFRA index outperformed the benchmark index as they closed with 1.41% and 1.20% gains respectively while PHARMA index underperformed as it closed with 1.18% cut. Broader market lagged as MID cap index and SMALL cap index closed with 0.04% and 0.71% cut respectively

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

* European markets (DAX) and US markets (DJIA) closed with gains on Friday. However, Asian markets are trading mixed today

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today with support at 15300 - 15200 and resistance at 15500 - 15600 level

* Banking index is likely to trade in line with the benchmark index with support at 34800 - 34500 and resistance at 35500 – 35800 level

* GRASIM has closed with bullish candlestick formation above 21 EMA and it is likely to continue its upside momentum today as well

BANK NIFTY (Daily) Chart

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