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TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday before closing with 0.34% gain at 21618 level. Banking index performed in line with the benchmark index as it closed with 0.25% gain at 47360 level.

* India VIX closed with 2.21% cut at 12.97 level.

* Among Sectors NIFTYMEDIA index performed better than the benchmark index as it closed with 3.47% gain while NIFTYPSE index underperformed as it closed with 1.01% cut.

* Broader market performed in line with the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.23% and 0.35% gains respectively.

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

* European markets (DAX) closed flat while US markets (DJIA) closed with positive bias yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today. Index has support at 21500 - 21450 level and resistance at 21750 – 21800 level.

* Banking index is likely to trade in line with benchmark index today with support at 47000 - 46800 level and resistance at 47800 - 48000 level.

* ICICIBANK 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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