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TECHNICAL OUTLOOK

* Benchmark index traded volatile on weekly expiry before closing with 0.25% cut at 18488 level. Banking index lagged the benchmark index as it closed with 0.77% cut at 43790 level.

* India VIX closed with 3.13% cut at 11.59 level.

* Among Sectors REALTY index outperformed the benchmark index as it closed with 1.09% gain while FINNIFTY index underperformed as it closed with 0.63% cut.

* Broader market performed better than the benchmark index as both MIDCAP and SMALLCAP index closed with 0.11% and 0.61% gains 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 following suit and trading higher today.

* Intraday Market Outlook

* Benchmark index is likely to open higher on the back of favourable global cues and trade with mild positive bias today. Index has support at 18400 - 18350 level and resistance at 18600 – 18650 level

* Banking index is likely to trade in line with the benchmark index today with support at 43500 - 43300 level and resistance at 44200 - 44400 level.

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

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