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TECHNICAL OUTLOOK

* Benchmark index traded range bound on Friday before closing with 0.01% cut at 22513.7 level. Banking index outperformed the benchmark index as it closed with 0.90% gain at 48493 level.

* India VIX closed with 1.05% gain at 11.33 level.

* Among Sectors NIFTYREALTY index performed better than the benchmark index as it closed with 1.43% gain while NIFTYIT index underperformed as it closed with 0.50% cut.

* Broader market outperformed benchmark index as both MIDCAP and SMALLCAP index closed with 0.56% and 0.84% gains 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) closed lower while US markets (DJIA) closed higher on Friday. Asian Markets are trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today. Index has support at 22450 - 22400 level and resistance at 22650 - 22700 level.

* Banking index is likely to trade in line with the benchmark index today with support at 48200 - 48000 level and resistance at 48800 - 49000 level.

* ICICIBANK has closed with bullish candlestick and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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