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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias yesterday as it closed with 1.10% cut at 22272 level. Banking index underperformed the benchmark index as it closed with 1.63% cut at 47773 level.

* India VIX closed with 8.11% gain at 12.46 level

* Among Sectors NIFTYENERGY index performed better than the benchmark index as it closed with 0.32% cut and NIFTYMEDIA index underperformed as it closed with 2.23% cut.

* Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 1.57% and 1.73% cut respectively.

* Advance/Decline ratio was in favour of declines 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) closed higher while US markets (DJIA) closed lower yesterday. Asian Markets are trading lower today.

Intraday Market Outlook

* Benchmark index is likely to open lower on unfavourable global cues and trade volatile today. Index has support at 22000 - 21900 level and resistance at 22300 - 22350 level.

* Banking index is likely to trade in line with the benchmark index today with support at 47000 - 46800 level and resistance at 47800 - 48000 level.

* BANDHANBNK has closed with bearish candlestick and it is likely to trade with negative bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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