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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias as it closed with 1.84% gain at 17287 level. Banking index performed in line with the benchmark index as it closed with 1.90% gain at 36429 level

* India VIX closed with 6.26% cut at 22.61 level

* Among Sectors, REALTY and AUTO index outperformed as they closed with 3.13% and 2.18% gains while IT index underperformed as it closed with minor 0.24% cut. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 1.38% and 1.23% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was higher than 5-day average. FII were net buyers while DII were net sellers in the cash segment

* European markets (DAX) and US markets (DJIA) closed with gains on Friday. Asian Markets are largely trading higher today

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade rangebound with mild positive bias today. Index has support at 17150 - 17050 level and resistance at 17450 - 17550 level.

* Banking index is likely to trade in line with benchmark index with support at 36000 - 35700 level and resistance at 36900 - 37200 level.

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

BANK NIFTY (Daily) Chart

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