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TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday before closing with 1.01% gain at 21453 level. Banking index lagged the benchmark index as it closed with 0.15% gain at 45082 level.

* India VIX closed with 3.21% cut at 14.37 level.

* Among Sectors NIFTYPSE index performed better than the benchmark index as it closed with 3.19% gain while NIFTYREALTY index underperformed as it closed with 0.24% gain.

* Broader market performed better than the benchmark index as both MIDCAP index and SMALLCAP index closed with 1.71% and 1.72% gains respectively.

* Advance/Decline ratio was in favour of advances 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 mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile on monthly expiry today. Index has support at 21300 - 21250 level and resistance at 21550 – 21600 level.

* Banking index is likely to trade in line with benchmark index today with support at 44700 - 44500 level and resistance at 45500 - 45700 level.

* RELIANCE 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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