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MARKET OVERVIEW

* Benchmark index traded volatile before closing with 0.43% cut at 17241 level. Banking index performed better than the benchmark index as it closed with 0.22% cut at 39093.1 level

* India VIX closed with 4.31% gain at 19.62 level

* Among Sectors, IT index outperformed the benchmark index as it closed with 1.06% gain while MEDIA and FMCG index underperformed the benchmark index as they closed with 1.07% and 1.10% cut respectively. Broader market lagged the benchmark index as both MIDCAP and SMALLCAP index closed with 0.87% cut and 0.58% 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) closed flat while US markets (DJIA) closed lower yesterday. Asian Markets are largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 17100 - 17000 level and resistance at 17400 - 17500 level

* Banking index is likely to trade in line with benchmark index today with support at 38800 - 38500 level and resistance at 39400 - 39700 level

* INFY has closed above 21EMA with bullish candlestick formation and is likely to continue its positive momentum today as well.

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