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TECHNICAL OUTLOOK

* Benchmark index traded volatile on Saturday before closing with 0.23% cut at 21571 level. Banking index outperformed the benchmark index as it closed with 0.78% gain at 46058 level.

* India VIX closed with 0.54% cut at 13.80 level.

* Among Sectors NIFTYPSUBANK index performed better than the benchmark index as it closed with 1.86% gain while NIFTYFMCG index underperformed as it closed with 1.17% cut.

* Broader market performed better than the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.46% and 0.41% gains respectively.

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

* European markets (DAX) and US markets (DJIA) closed higher yesterday. Asian Markets are following suit and trading with positive bias today.

Intraday Market Outlook

* Benchmark index is likely to open higher and trade with positive bias today. Index has support at 21600 - 21550 level and resistance at 21800 – 21850 level.

* Banking index is likely to trade in line with benchmark index today with support at 46000 - 45800 level and resistance at 46600 - 46800 level.

* SBIN 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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