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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias yesterday as it closed with 1.0% gain at 22643 level. Banking index outperformed the benchmark index as it closed with 2.54% gain at 49424 level.

* India VIX closed with 11.99% gain at 12.23 level.

* Among Sectors NIFTYPSUBANK index performed better than the benchmark index as it closed with 2.56% gain while NIFTYREALTY index underperformed as it closed with 1.00% cut.

*  Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.42% and 0.22% gains respectively.

* Advance/Decline ratio was in favour of advances 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 trade range bound today. Index has support at 22550 - 22500 level and resistance at 22800 - 22850 level.

* Banking index is likely to trade in line with the benchmark index today with support at 49100 - 48900 level and resistance at 49800 - 50000 level.

* INTELLECT has closed with bullish candlestick and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Charts

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