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TECHNICAL OUTLOOK

* Benchmark index traded range bound before closing with 0.35% cut at 18115 level. Banking index outperformed the benchmark index as it closed with 0.73% gain at 40324 level.

* India VIX closed with 2.72% cut at 17.55 level

* Among Sectors, REALTY and BANKING indices outperformed the benchmark index as they closed with 2.56% and 0.73% gains while METAL and MEDIA indices lagged as they closed with 3.04% and 2.24% cut respectively. Broader market lagged the benchmark index as both MIDCAP and SMALLCAP index closed with 0.87% and 1.25% 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 with gains on Friday. Asian markets are trading mixed today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade range bound today with support at 18000 - 17900 level and resistance at 18300 - 18400 level

* Banking index is likely to trade with mild positive bias today with support at 40000 - 39700 level and resistance at 40800 - 41100 level

* SBICARD has closed with bullish candlestick formation with above average volumes. Stock is trading above 21 EMA and it is likely to continue its upside momentum today as well

BANK NIFTY (Daily) Chart

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