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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.17% gain at 17853 level. Banking index traded in line with the benchmark index as it closed with 0.16% gain at 37830 level.  India VIX closed with 1.93% gain at 16.92 level

* Among Sectors, REALTY and IT indices outperformed the benchmark index as they closed with 1.50% and 0.78% gains while METAL and PSUBANK underperformed as they closed with 2.10% and 1.83% cut respectively. Broader market traded mixed compared to the benchmark index as MIDCAP closed with 0.78% cut while SMALLCAP index closed with 0.12% minor gain.

* Advance/Decline ratio was in favour of declines and cash turnover was higher than 5-day average. FII were net buyers while DII were net sellers in the cash segment

* European markets (DAX) closed lower while US markets (DJIA) closed with minor gains on Friday. However, Asian markets are trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today with support at 17750 - 17650 level and resistance at 18000 - 18100 level

* Banking index is likely to trade in line with benchmark index today with support at 37500 - 37300 level and resistance at 38200 - 38400 level

* HDFCBANK has closed above previous swing high 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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