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TECHNICAL OUTLOOK

* Benchmark index traded volatile on Friday before closing with 0.67% cut at 22420 level. Banking index performed in line with the benchmark index as it closed with 0.61% cut at 48201 level.

* India VIX closed with 1.82% gain at 10.92 level.

* Among Sectors NIFTYMEDIA index performed better than the benchmark index as it closed with 1.18% gain while FINNIFTY index underperformed as it closed with 0.89% cut.

* Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.79% and 0.56% gains 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) and US markets (DJIA) closed higher on Friday. Asian Markets are largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade with positive bias today. Index has support at 22350 - 22300 level and resistance at 22600 - 22650 level.

* Banking index is likely to trade in line with the benchmark index today with support at 47900 - 47700 level and resistance at 48600 - 48800 level.

* BHARATFORGE 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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