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TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday before closing with 0.36% gain at 22514 level. Banking index performed better than the benchmark index as it closed with 0.92% gain at 48060 level.

* India VIX closed with 1.34% cut at 11.22 level.

* Among Sectors NIFTYIT index performed better than the benchmark index as it closed with 1.08% gain while NIFTYPSUBANK index underperformed as it closed with 0.70% cut.

* Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.01% and 0.45% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was higher than 5-day average. Both FII and DII were net sellers in the cash segment. ? European markets (DAX) closed higher while US markets (DJIA) closed lower yesterday. Asian Markets are trading lower today

Intraday Market Outlook

* Benchmark index is likely to open lower on unfavourable global cues and trade volatile today. Index has support at 22350 - 22300 level and resistance at 22550 - 22600 level.

* Banking index is likely to trade in line with the benchmark index today with support at 47600 - 47400 level and resistance at 48500 - 48700 level.

* HEROMOTOCO has closed with bearish candlestick and it is likely to trade with negative bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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