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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias yesterday as it closed with 0.43% gain at 21441 level. Banking index performed in line with the benchmark index as it closed with 0.49% gain at 47724 level.

* India VIX closed with 7.08% gain at 14.67 level.

* Among Sectors NIFTYPSE index performed better than the benchmark index as it closed with 1.96% gain while NIFTYMEDIA index underperformed as it closed with 0.58% cut.

* Broader market performed in line with the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.72% and 0.48% 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) were shut due to holiday while US markets (DJIA) closed higher yesterday. Asian Markets are largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade with positive bias today with support at 21350 - 21300 level and resistance at 21550 – 21600 level.

* Banking index is likely to trade in line with benchmark index today with support at 47400 - 47200 level and resistance at 48100 - 48300 level.

* MARUTI has closed with bullish candlestick and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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