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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.12% cut at 24479 level. Banking index underperformed the benchmark index as it closed with 0.96% cut at 51778 level.

* India VIX closed with 17.43% cut at 12.74 level.

* Among Sectors NIFTYFMCG index performed better than the benchmark index as it closed with 2.68% gain while NIFTYREALTY index underperformed as it closed with 2.29% cut.

* Broader market performed in line with the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.60% and 0.88% cut respectively.

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

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

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 24250 - 24200 level and resistance at 24600 - 24650 level.

* Banking index is likely to trade in line with the benchmark index today with support at 51200 - 51000 level and resistance at 52200 - 52400 level.

* INFY 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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