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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.42% cut at 17393 level. Banking index outperformed the benchmark index as it closed with 1.00% gain at 40307 level.

* India VIX closed with 2.19% cut at 13.87 level.

* Among Sectors REALTY index outperformed the benchmark index as it closed with 2.18% gain while MEDIA index underperformed the benchmark index as it closed with 3.89% cut. Broader market lagged the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.69% and 1.28% 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 higher yesterday. Asian Markets are largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today with support at 17300 - 17250 level and resistance at 17500 – 17550 level.

* Banking index is likely to trade with mild positive bias today with support at 40000 - 39800 level and resistance at 40800 - 41000 level.

* ICICIBANK has closed above 21EMA with bullish candlestick and it is likely to trade with positive bias today as well.

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