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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias yesterday before closing with 0.67% gain at 24286 level. Banking index outperformed the benchmark index as it closed with 1.77% gain at 53089 level.

* India VIX closed with 3.19% cut at 13.20 level.

* Among Sectors FINNIFTY index performed better than the benchmark index as it closed with 1.80% gain while NIFTYMEDIA index underperformed as it closed with 0.39% cut.

* Broader market performed in line with the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.79% and 1.03% 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) closed higher while US markets (DJIA) closed flat yesterday. Asian Markets are largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to open higher and trade volatile on weekly expiry today. Index has support at 24200 - 24150 level and resistance at 24450 - 24500 level.

* Banking index is likely to trade in line with the benchmark index today with support at 52800 - 52600 level and resistance at 53500 - 53700 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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