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TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday before closing with 0.68% gain at 22146 level. Banking index underperformed the benchmark index as it closed with 0.41% cut at 46790 level.

* India VIX closed with 5.61% cut at 13.62 level.

* Among Sectors NIFTYPSE index performed better than the benchmark index as it closed with 2.13% gain while FINNIFTY index underperformed as it closed with 0.16% cut.

* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 2.02% and 3.45% gains respectively.

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

* European markets (DAX) and US markets (DJIA) closed lower yesterday. Asian Markets are trading with negative bias today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile 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 46500 - 46300 level and resistance at 47100 - 47300 level.

* ABBOTINDIA has closed with bullish candlestick and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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