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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias yesterday before closing with 0.69% cut at 21517 level. Banking index performed better than the benchmark index as it closed with 0.12% cut at 47705 level.

* India VIX closed with 3.31% cut at 14.09 level. ? Among Sectors NIFTYREALTY index performed better than the benchmark index as it closed with 1.23% gain while NIFTYIT index underperformed as it closed with 2.52% cut.

* Broader market performed better than the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.20% and 0.30% gains respectively.

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

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

Intraday Market Outlook

* Benchmark index is likely to trade volatile on weekly expiry today. Index has support at 21400 - 21350 level and resistance at 21600 – 21650 level.

* Banking index is likely to trade in line with benchmark index today with support at 47400 - 47200 level and resistance at 48000 - 48200 level.

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

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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