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TECHNICAL OUTLOOK

* Benchmark index traded range bound yesterday before closing with 0.15% cut at 22443 level. Banking index performed in line with the benchmark index as it closed with 0.06% cut at 48895 level.

* India VIX closed with 13.56% gain at 16.60 level.

*  Among Sectors NIFTYREALTY index performed better than the benchmark index as it closed with 2.76% gain while NIFTYPSUBANK index underperformed as it closed with 3.66% cut.

Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.54% and 1.55% 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 mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 22300 - 22250 level and resistance at 22650 - 22700 level.

* Banking index is likely to trade in line with the benchmark index today with support at 48600 - 48400 level and resistance at 49400 - 49600 level.

* TCS 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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