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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias yesterday as it closed with 1.80% gain at 21737 level. Banking index lagged the benchmark index as it closed with 1.28% gain at 45442 level.

* India VIX closed with 13.09% gain at 15.68 level.

* Among Sectors NIFTYENERGY index performed better than the benchmark index as it closed with 5.17% gain while NIFTYFMCG index underperformed as it closed with 0.14% cut.

* Broader market traded in line with the benchmark index as MIDCAP and SMALLCAP index closed with 1.68% and 1.03% gains respectively.

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

* European markets (DAX) closed with minor cut while US markets (DJIA) closed higher yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to open higher and trade volatile today. Index has support at 21650 - 21600 level and resistance at 21900 – 21950 level.

* Banking index is likely to trade in line with benchmark index today with support at 45200 - 45000 level and resistance at 45800 - 46000 level.

* ULTRACEMCO 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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