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TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday before closing with 0.14% gain at 21982 level. Banking index performed slightly better than the benchmark index as it closed with 0.34% gain at 46120 level.

* India VIX closed with 4.64% cut at 15.57 level. ? Among Sectors NIFTYPSUBANK index performed better than the benchmark index as it closed with 1.30% gain while NIFTYMEDIA index underperformed as it closed with 0.91% cut.

* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.51% and 0.64% gains respectively.

* Advance/Decline ratio was in favour of Advances 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) and US markets (DJIA) closed higher yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 21900 - 21850 level and resistance at 22100 - 22150 level.

* Banking index is likely to trade in line with the benchmark index today with support at 45800 - 45600 level and resistance at 46400 - 46600 level.

* HCLTECH 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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