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TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday before closing with 0.64% cut at 22055 level. Banking index performed better than the benchmark index as it closed with 0.16% cut at 47019 level.

* India VIX closed with 0.90% cut at 15.92 level.

* Among Sectors NIFTYREALTY index performed better than the benchmark index as it closed with 2.00% gain while NIFTYMEDIA index underperformed as it closed with 4.91% cut.

* Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 1.25% and 1.04% cut respectively.

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

* European markets (DAX) and US markets (DJIA) closed higher yesterday. Asian Markets are largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile on weekly expiry today. Index has support at 22000 - 21950 level and resistance at 22200 - 22250 level.

* Banking index is likely to trade in line with the benchmark index today with support at 46700 - 46500 level and resistance at 47400 - 47600 level.

* NESTLEIND 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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