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TECHNICAL OUTLOOK

* Benchmark index traded highly volatile before closing with 0.05% cut at 15683 level. Banking index traded largely in line with benchmark index as it closed with 0.14% cut at 34558 level

* India VIX closed with 3.20% cut at 14.80 level

* Among Sectors, FMCG index performed better as it closed with 0.29% gain while PSE and ENERGY index underperformed benchmark index as they closed with 2.37% and 1.95% cut. Broader market lagged as MID cap and SMALL cap index closed with 1.05% and 0.88% cut respectively

* Advance/Decline ratio was in favour of declines 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 with sharp cuts on Friday. Asian markets are following suit and trading lower today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade with negative bias today with support at 15450 - 15350 level and resistance at 15700 - 15800 level

* Banking index is likely to trade in line with the benchmark index with support at 33800 - 33500 level and resistance at 34600 - 35000 level

* ASHOKLEY has closed with bearish candlestick formation below 21 EMA and it is likely to continue its downside momentum today as well

BANK NIFTY (Daily) Chart

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