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TECHNICAL OUTLOOK

* Benchmark index traded range bound before closing with 0.14% gain at 25052 level yesterday. Banking index underperformed the benchmark index as it closed with 0.26% cut at 51143 level.

* India VIX closed with 2.33% cut at 13.95 level.

* Among Sectors NIFTYIT outperformed the benchmark index as it closed with 1.66% gain while NIFTYRLTY index underperformed as it closed with 0.52% cut.

* Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.20% and 0.16% cuts respectively.

* Advance/Decline ratio was in favour of declines and cash turnover was higher than 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 yesterday. Asian Markets are largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile on monthly expiry today. Index has support at 24900 - 24850 level and resistance at 25150 - 25200 level.

* Banking index is likely to trade in line with the benchmark index today with support at 50600 - 50400 level and resistance at 51600 - 51800 level.

* CIPLA closed with bullish candlestick pattern and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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