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TECHNICAL OUTLOOK

* Benchmark index traded range bound before closing with 0.14% gain at 25418 level yesterday. Banking index lagged the benchmark index as it closed with 0.07% gain at 52189 level

* India VIX closed with 1.04% gain at 12.59 level

* Among Sectors NIFTYREALTY outperformed the benchmark index as it closed with 0.61% gain while NIFTYMEDIA underperformed as it closed with 1.19% cut.

* Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.13% and 0.37% cut respectively.

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

* European markets (DAX) closed higher while US markets (DJIA) closed with minor cut yesterday. Asian Markets are trading mixed today

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 25250 - 25200 level and resistance at 25550 - 25600 level.

* Banking index is likely to perform in line with benchmark index today with support at 51800 - 51600 level and resistance at 52600 - 52800 level.

* CIPLA has 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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