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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias as it closed with 0.90% cut at 24180 level on Friday. Banking index underperformed the benchmark index as it closed with 1.44% cut at 50787 level.

* India VIX closed with 4.74% gain at 14.63 level. ? Among Sectors NIFTYFMCG outperformed the benchmark index as it closed with 0.88% gain while NIFTYPSE underperformed as it closed with 2.58% cut.

* Broader market underperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 1.90% and 2.20% cut respectively.

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

* European markets (DAX) closed higher while US markets (DJIA) closed lower on Friday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 24050 - 24000 level and resistance at 24400 - 24500 level.

* Banking index is likely to perform in line with benchmark index today with support at 50300 - 50000 level and resistance at 51300 - 51500 level.

* Bajaj-Auto has closed with hammer candlestick pattern near its support zone. It is likely to trade with a positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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