*DAILY EQUITY REPORT* TECHNICAL OUTLOOK  Benchmark index traded on a negative note and closed with 1.06% cut at 22,553 level. Banking index slightly outperformed the benchmark index as it closed with 0.67% cut at 48,652 level  India VIX closed with 0.62% cut at 14.44 level  Among Sectors, FMCG and AUTO index outperformed as it closed with 0.36% and 0.22% gains while IT and METAL were the laggards as they closed with 2.71% and 2.17% cut. Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.94% and 1.02% cut respectively  European markets, including the DAX, and US markets, such as the DJIA, traded mixed in yesterday’s session. Today, Asian markets are trading negatively due to US pressure on China.. *POSITIONAL MARKET OUTLOOK*  In the previous trading session, the benchmark index broke below the crucial support level of 22,700, signaled by a gapdown that demonstrates strong selling pressure. The next support levels are now at 22,400 followed by 22,100. Strong immediate resistance for the index stands at 23,200, if prices can remain above this resistance level, it may help reverse the current negative sentiment. Until then, any rebound within the range of 22,700 to 22,900 should be seen as an opportunity to short, with a strict stop-loss set at 23,200 on the upside.  The banking index opened lower and exhibited volatility within a broader range, ultimately closing with a Doji candlestick formation. Looking ahead, a retest of the 48,900 – 49,200 area on the upside should be considered a shorting opportunity, with a strong resistance level at 49,700. On the downside, immediate support is situated at 48,200 - 47,850 levels. *INTRADAY MARKET OUTLOOK WITH PIVOT LEVEL*  Benchmark index is likely to open on a negative note and trade with mild negative bias with support at 22,400 – 22,250 level and resistance at 22,700 – 22,850 level.  Banking index is likely to trade in line with the benchmark index with support at 48,250 – 47,850 level and resistance at 48,900 – 49,200 level.