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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.39% cut at 18127 level. Banking index lagged the benchmark index as it closed with 0.49% cut at 42409 level.

* India VIX closed with 2.41% cut at 15.18 level.

* Among Sectors REALTY and PSUBANK underperformed the benchmark index as they closed with 1.42% and 1.23% cut respectively. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.77% and 1.83% cut respectively.

* Advance/Decline ratio was in favour of declines and cash turnover was lower than 5-day average. Both FII and DII were net buyers in the cash segment

* European markets (DAX) and US markets (DJIA) closed lower yesterday. Asian Markets are largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to open lower and trade volatile today. Index has support at 18000 - 17900 level and resistance at 18200 – 18300 level.

* Banking index is likely to trade in line with benchmark index today with support at 42000 - 41700 level and resistance at 42700 - 43000 level.

* UPL has closed below 21day EMA with bearish candlestick and it is likely to continue its negative momentum today as well.

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