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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias yesterday before closing with 1.55% cut at 21957 level. Banking index performed in line with the benchmark index as it closed with 1.11% cut at 47488 level.

* India VIX closed with 6.56% gain at 18.20 level.

* Among Sectors NIFTYAUTO index performed better than the benchmark index as it closed with 0.78% gain while NIFTYPSE index underperformed as it closed with 3.41% cut.

* Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 1.85% and 2.83% 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 higher yesterday. Asian Markets are trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 21800 - 21700 level and resistance at 22150 - 22200 level.

* Banking index is likely to trade in line with the benchmark index today with support at 47000 - 46700 level and resistance at 48000 - 48300 level.

* INFY has closed with bullish candlestick and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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