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TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday before closing with 0.13% cut at 21697 level. Banking index performed better than the benchmark index as it closed with 0.42% gain at 46188 level.

* India VIX closed with 9.92% cut at 14.45 level.

* Among Sectors NIFTYPSUBANK index performed better than the benchmark index as it closed with 3.11% gain while NIFTYMEDIA index underperformed as it closed with 1.09% cut.

* Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.40% and 0.22% 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 lower while US markets (DJIA) closed higher yesterday. Asian Markets are trading with positive bias today.

Intraday Market Outlook

* Benchmark index is likely to open higher following supportive global cues and trade volatile today. Index has support at 21650 - 21600 level and resistance at 21900 – 21950 level.

* Banking index is likely to trade in line with the benchmark index today with support at 45800 - 45600 level and resistance at 46600 - 46800 level.

* HDFCLIFE 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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