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TECHNICAL OUTLOOK

*  Benchmark index traded range bound before closing with 0.11% cut at 23532 level on Thursday. Banking index performed better than the benchmark index as it closed with 0.18% gain at 50179 level.

*  India VIX closed with 4.28% cut at 14.77 level.

*  Among Sectors NIFTYMEDIA outperformed the benchmark index as it closed with 2.26% gain while NIFTYFMCG underperformed as it closed with 1.53% cut.

*  Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.45% and 0.81% gains 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 on Friday. Asian Markets are trading mixed today.

Intraday Market Outlook

*  Benchmark index is likely to trade volatile today. Index has support at 23350 - 23300 level and resistance at 23750 - 23800 level.

*  Banking index is likely to perform in line with benchmark index today with support at 49700 - 49500 level and resistance at 50800 - 51000 level.

*  INDHOTEL closed with a positive candlestick pattern and it is likely to trade with a positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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