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TECHNICAL OUTLOOK

* Benchmark index traded on a positive note as it closed with 1.21% gain at 17245 level. Banking index traded in line with the benchmark index as it closed with 1.09% gain at 36422 level

* India VIX closed with 5.97% cut at 19.38 level

* Among Sectors, FMCG and ENERGY index outperformed the benchmark index as they closed with 2.19% and 1.82% gains while MEDIA index lagged as it closed with 3.15% cut. Broader market slightly underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.60% and 0.36% 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.

NIFTY (Daily) Char

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias with support at 17150 - 17050 level and resistance at 17400 - 17500 level.

* Banking index is likely to trade in line with the benchmark index today with support at 36100 - 35800 level and resistance at 36900 - 37200 level.

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

BANK NIFTY (Daily) Char

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