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TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday before closing with 0.45% cut at 24324 level. Banking index underperformed the benchmark index as it closed with 0.72% cut at 52189 level.

* India VIX closed with 1.07% gain at 14.43 level.

* Among Sectors NIFTYPSE index performed better than the benchmark index as it closed with 0.47% gain while NIFTYAUTO index underperformed as it closed with 2.02% cut.

* Broader market performed in line with the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.27% and 0.88% cut respectively.

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

* European markets (DAX) and US markets (DJIA) closed higher yesterday. Asian Markets are following suit and trading higher today.

Intraday Market Outlook

* Benchmark index is likely to open higher and trade volatile on expiry day. Index has support at 24200 - 24150 level and resistance at 24500 - 24550 level.

* Banking index is likely to trade in line with the benchmark index today with support at 51800 - 51600 level and resistance at 52700 - 52900 level.

* RELIANCE witnessed buying interest at lower levels yesterday and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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