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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias yesterday before closing with 0.79% gain at 22012 level. Banking index performed in line with the benchmark index as it closed with 0.81% gain at 46685 level.

* India VIX closed with 7.13% cut at 12.51 level.

* Among Sectors NIFTYREALTY index performed better than the benchmark index as it closed with 3.00% gain and NIFTYFMCG index underperformed as it closed with 0.65% gain.

* Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 2.43% and 2.51% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was lower 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 higher yesterday. Asian Markets are largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade range bound today. Index has 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 46400 - 46200 level and resistance at 47000 - 47200 level.

* ASHOKLEY 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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