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TECHNICAL OUTLOOK

* Benchmark index closed lower with 1.40% cut at 17313 level. Banking index underperformed the benchmark index as it closed with 1.82% cut at 38277 level

* India VIX closed with 8.78% gain at 19.82 level

* Among Sectors, FMCG index outperformed the benchmark index as it closed with 0.39% gain while IT and MEDIA index were the laggards as they closed with 3.53% and 2.03% cut. Broader market performed better than the benchmark index as both   MIDCAP and SMALLCAP index closed with 0.83% and 0.98% cut 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) and US markets (DJIA) closed lower yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 17200 - 17100 level and resistance at 17450 - 17500 level ? Banking index is likely to trade in line with the benchmark index today with support at 38000 - 37700 level and resistance at 38600 - 38900 level

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

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