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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias yesterday before closing with 0.41% cut at 22122 level. Banking index performed in line with the benchmark index as it closed with 0.50% cut at 46576 level.

* India VIX closed with 4.19% gain at 15.60 level.

* Among Sectors NIFTYENERGY index performed better than the benchmark index as it closed with 0.50% gain while NIFTYIT index underperformed as it closed with 1.17% cut.

* Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.36% and 0.26% cut respectively.

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

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

Intraday Market Outlook

* Benchmark index is likely to trade with negative bias 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 46200 - 46000 level and resistance at 46800 - 47000 level.

* BANDHANBNK 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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