*DAILY EQUITY REPORT* *TECHNICAL OUTLOOK*  Benchmark index traded negative and closed with 0.51% cut at 22,796 level. Banking index underperformed the benchmark index as it closed with 0.72% cut at 48,981  India VIX closed with 1.02% cut at 14.53 level  Among Sectors, METAL index outperformed as it closed with 1.02% gains while AUTO and PHARMA were the laggards as they closed with 2.58% and 1.92% cut. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 1.32% and 0.70% cut respectively  European markets, including the DAX, and US markets, such as the DJIA, experienced a slowdown during Friday’s trading session due to concerns about softening consumer demand. Asian markets are trading slightly lower today. *POSITIONAL MARKET OUTLOOK*  The benchmark index closed with a Gravestone Doji formation on the weekly timeframe, indicating selling pressure at higher levels. The closing and opening prices are almost the same, signaling negative sentiment for the past week. A break below the crucial support level of 22,700 would further intensify selling pressure, potentially pushing the index down to the 22,400 to 22,100 range. Immediate resistance for the index is set at 23,300. Sustaining prices above this level could reverse the negative sentiment. Until then, any bounce within the range of 22,900 to 23,100 should be viewed as a shorting opportunity, with a strict stop loss at 23,300 on the higher side.  The banking index closed with a candlestick formation similar to that of the benchmark index, indicating selling pressure at higher levels. Looking ahead, the crucial resistance level for the index is 49,900. Any rebound in the range of 49,200 to 49,500 should be viewed as a shorting opportunity, with a strict stop-loss set at 49,900. Immediate support for the index is at 48,500; if this level is breached, it will likely intensify selling pressure and lead to further downward movement towards 47,850 level. *INTRADAY MARKET OUTLOOK WITH PIVOT LEVEL*  Benchmark index is likely to open on a negative note and trade with volatile price action with a slightly bearish bias with support at 22,600 – 22,400 level and resistance at 22,900 – 23,100 level.  Banking index is likely to trade in line with the benchmark index with support at 48,500 – 48,100 level and resistance at 49,000 – 49,400 level.