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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias yesterday as it closed with 0.66% gain at 21658 level. Banking index performed better than the benchmark index as it closed with 1.03% gain at 48195 level.

* India VIX closed with 5.44% cut at 13.33 level.

* Among Sectors NIFTYREALTY index performed better than the benchmark index as it closed with 6.76% gain while NIFTYIT index underperformed as it closed with 0.04% gain.

* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 1.49% and 1.04% 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 largely trading with positive bias today.

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today. Index has support at 21550 - 21500 level and resistance at 21750 – 21800 level.

* Banking index is likely to trade in line with benchmark index today with support at 47900 - 47700 level and resistance at 48500 - 48700 level.

* DABUR 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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