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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with minor 0.10% cut at 17305 level. Banking index underperformed the benchmark index as it closed with 1.11% cut at 37532 level  India VIX closed with 6.90% gain at 22.01 level

* Among Sectors, ENERGY index outperformed as it closed with 1.50% gain while PSUBANK and BANKING index lagged as they closed with 1.19% and 1.11% cut respectively. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.30% and 1.04% 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 lower yesterday. However, Asian Markets are recovering from intraday lows and trading mixed today

Intraday Market Outlook

* Benchmark Index is likely to remain volatile as geopolitical tensions continue to rattle the markets. Index has support at 17100 - 17000 level and resistance at 17500 - 17600 level.

* Banking index is likely to trade in line with the benchmark index today with support at 37000 - 36700 level and resistance at 38000 - 38300 level.

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

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