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TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday before closing with 0.22% gain at 23567 level. Banking index outperformed the benchmark index as it closed with 0.75% gain at 51783 level.

* India VIX closed with 2.68% cut at 13.34 level.

* Among Sectors NIFTYREALTY index performed better than the benchmark index as it closed with 2.02% gain while NIFTYPHARMA index underperformed as it closed with 0.51% cut.

* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.95% and 0.61% gains respectively.

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

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

Intraday Market Outlook

* Benchmark index is trade range bound today. Index has support at 23400 - 23350 level and resistance at 23700 - 23750 level.

* Banking index is likely to trade in line with the benchmark index today with support at 51300 - 51100 level and resistance at 52200 - 52400 level.

* HINDUNILVR 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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