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TECHNICAL OUTLOOK

* Benchmark index traded negative as it closed with 0.62% cut at 16026 level. Banking index outperformed the benchmark index as it closed with 0.14% gain at 34340 level

* India VIX closed with 1.40% cut at 25.28 level  Among Sectors, BANKING index outperformed the benchmark index as it closed with 0.14% gain while IT and REALTY index were the laggards as they closed with 3.38% and 2.88% cut respectively. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 2.45% and 3.46% cut respectively.

* Advance/Decline ratio was in favour of declines 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. However, Asian Markets are trading mixed today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile on monthly expiry day with support at 15900 - 15800 level and resistance at 16200 - 16300 level.

* Banking index is likely to trade in line with the benchmark index today with support at 34000 - 33700 level and resistance at 34800 - 35000 level.

* HDFC has closed with bullish candlestick formation. Stock is trading above 21 EMA and it is likely to continue its positive price action today as well.

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