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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias as it closed with 0.5% gain at 18118 level. Banking index slightly performed better than benchmark index as it closed with 0.74% gain at 42821 level.

* India VIX closed with 1.23% cut at 13.61 level.

* Among Sectors IT index outperformed the benchmark index as it closed with 1.88% gain while REALTY index underperformed the benchmark index as it closed with 1.63% cut. Broader market traded mixed as MIDCAP index closed with 0.44% gain while SAMLLCAP index closed with 0.30% cut respectively.

* Advance/Decline ratio was in favour of advances 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.

NIFTY (Daily) Chart 

Intraday Market Outlook

* Benchmark index is likely to trade with positive bias today with support at 18050 - 18000 level and resistance at 18250 – 18300 level.

* Banking index is likely to trade in line with benchmark index today with support at 42600 - 42400 level and resistance at 43200 - 43400 level.

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

BANK NIFTY (Daily) Chart

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