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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias yesterday as it closed with 0.54% gain at 22123 level. Banking index lagged the benchmark index as it closed with 0.40% gain at 46786 level.

* India VIX closed with 0.92% cut at 12.70 level.

* Among Sectors NIFTYREALTY index performed better than the benchmark index as it closed with 0.85% gain and NIFTYPSUBANK index underperformed as it closed with 0.97% cut.

* Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.06% and 0.96% gains respectively.

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

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

Intraday Market Outlook

* Benchmark index is likely to trade volatile on monthly expiry today with support at 22000 - 21950 level and resistance at 22250 - 22300 level.

* Banking index is likely to trade in line with the benchmark index today with support at 46500 - 46300 level and resistance at 47200 - 47400 level.

* HDFCBANK 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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