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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.13% cut at 17223 level. Banking index underperformed the benchmark index as it closed with 1.72% cut at 35527 level

* India VIX closed with 3.31% cut at 23.93 level

* Among Sectors, MEDIA and METAL index outperformed as they closed with 5.91% and 1.54% gains while BANKING and AUTO index underperformed as they closed with 1.72% and 0.49% cut respectively. Broader market performed better than the benchmark index as both MIDCAP and SMALLCAP index closed with 0.59% and 0.43% gains 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 with minor cut while US markets (DJIA) closed near day’s high yesterday. Asian Markets are trading mixed today.

NIFTY (Daily) Chart

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 with support at 35200 - 35000 level and resistance at 36000 - 36300 level.

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

BANK NIFTY (Daily) Chart

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