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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias before closing with 2.12% cut at 25250 level yesterday. Banking index performed in line with the benchmark index as it closed with 2.04% cut at 51845 level.

* India VIX closed with 9.86% gain at 13.17 level.

* Among Sectors NIFTYPHARMA performed better than the benchmark index as it closed with 0.51% cut while NIFTYREALTY underperformed as it closed with 4.36% cut.

* Broader market performed in line with the benchmark index as both MIDCAP index and SMALLCAP index closed with 2.21% and 1.96% cut respectively.

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

* Both European markets (DAX) and US markets (DJIA) closed lower yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 25100 - 25000 level and resistance at 25400 - 25500 level.

* Banking index is likely to perform in line with benchmark index today with support at 51400 - 51200 level and resistance at 52300 - 52500 level.

* ICICIBANK has reached its support level and it is likely to bounce back today.

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