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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias as it closed lower at 25198 level yesterday. Banking index performed in line with the benchmark index and closed at 51400 level

* India VIX closed with 3.86% gain at 14.3 level

* Among Sectors NIFTYPHARMA AND NIFTYFMCG outperformed the benchmark index as it closed with 0.74% and 0.41% gains respectively while METAL index underperformed as it closed with 0.75% cut

* Broader market performed better than the benchmark index as both MIDCAP and SMALLCAP index closed with 0.13% and 0.02% cut respectively

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

* European markets (DAX) closed lower while US markets (DJIA) closed higher yesterday. Asian Markets are largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to open higher and trade volatile on expiry day today. Index has support at 25100 - 25050 level and resistance at 25350 - 25400 level.

* Banking index is likely to outperform the benchmark index and trade with positive bias today with support at 51100 - 50900 level and resistance at 52000 - 52200 level.

* ICICIBANK has 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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