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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.36% gain at 15869 level. Banking index outperformed the benchmark index as it closed with 0.85% gain at 35248 level

* India VIX closed with 0.75% cut at 14.61 level

* Among Sectors, REALTY and FMCG index outperformed the benchmark index as they closed with 1.32% and 0.73% gains respectively while PHARMA index lagged as it closed with 0.88% cut. Broader market performed in line with benchmark index as MID cap and SMALL cap index closed with 0.61% and 0.45% gains respectively

* Advance/Decline ratio was equally split between the two and Cash turnover was lower than 5 day average. FII were net buyers while DII were net sellers in the cash segment

* European markets (DAX) closed higher while US markets (DJIA) closed lower yesterday. Asian markets are trading mixed today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade range bound with support at 15750 - 15650 level and resistance at 16000 - 16100 level

* Banking index is likely to trade in line with the benchmark index with support at 35000 - 34700 level and resistance at 35500 - 35800 level

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

BANK NIFTY (Daily) Chart

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