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TECHNICAL OUTLOOK

* Benchmark index traded range bound before closing with 0.41% gain at 23743 level yesterday. Banking index traded in line with the benchmark index as it closed with 0.39% gain at 51060 level.

* India VIX closed with 0.42% gain at 14.50 level.

* Among Sectors, NIFTYAUTO outperformed the benchmark index as it closed with 1.34% gain while NIFTYREALTY underperformed as it closed with 1.11% cut.

* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.44% and 1.02% gains respectively.

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

* Both European markets (SXXP) and US markets (DJIA) were shut due to holiday yesterday. Asian Markets are largely trading lower today.

* Intraday Market Outlook

* Benchmark index is likely to trade volatile on weekly expiry today. Index has support at 23600 - 23500 level and resistance at 23900 - 24000 level.

* Banking index is likely to trade in line with benchmark index with support at 50500 - 50200 level and resistance at 51500 - 51800 level.

* LT closed with a bullish candlestick formation yesterday and it is likely to trade with a positive bias today.

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