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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias yesterday before closing with 1.11% cut at 21951 level. Banking index lagged the benchmark index as it closed with 1.34% cut at 45963 level.

* India VIX closed with 3.83% gain at 16.33 level.

* Among Sectors NIFTYIT index performed better than the benchmark index as it closed with 0.34% cut while NIFTYMEDIA index underperformed as it closed with 3.46% cut.

* Broader market underperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 1.94% and 1.87% cut respectively.

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

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

Intraday Market Outlook

* Benchmark index is likely to trade volatile on monthly expiry today with support at 21850 - 21800 level and resistance at 22100 - 22150 level.

* Banking index is likely to trade in line with the benchmark index today with support at 45600 - 45400 level and resistance at 46300 - 46500 level.

* AUBANK has closed with bearish candlestick and it is likely to trade with negative bias today

NIFTY (Daily) Chart

BANK NIFTY (Daily) Charts

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