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TECHNICAL OUTLOOK

* Benchmark index traded volatile and closed with 0.09% minor cut at 17547 level. Banking index underperformed the benchmark index as it closed with 0.78% cut at 36945 level.

* India VIX closed with 0.18% cut at 16.49 level

* Among Sectors, MEDIA and REALTY indices outperformed the benchmark index as they closed with 13.57% and 8.45% gains while BANKING and FMCG underperformed as they closed with 0.78% and 0.27% cut respectively. Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 1.67% and 1.44% gains respectively.

* Advance/Decline ratio was in favour of advances 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. Asian markets are following suit and trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade with positive bias today with support at 17450 - 17350 level and resistance at 17700 - 17800 level

* Banking index is likely to trade in line with benchmark index today with support at 36700 - 36500 level and resistance at 37400 - 37600 level

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

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