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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias yesterday as it closed with 0.38% cut at 21771 level. Banking index performed in line with the benchmark index as it closed with 0.32% cut at 45825 level.

* India VIX closed with 6.26% gain at 15.61 level.

* Among Sectors NIFTYPSE index performed better than the benchmark index as it closed with 2.05% gain while NIFTYFMCG index underperformed as it closed with 0.76% cut.

* Broader market performed mixed as MIDCAP closed with 0.14% cut while SMALLCAP index closed with 0.26% gain.

* Advance/Decline ratio was in favour of declines 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 lower yesterday. Asian Markets are largely trading with negative bias today

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 21600 - 21550 level and resistance at 21850 – 21900 level.

* Banking index is likely to trade in line with the benchmark index today with support at 45400 - 45200 level and resistance at 46200 - 46400 level.

* SBICARD 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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