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TECHNICAL OUTLOOK

* Benchmark index closed with 1.07% cut at 18113 level. Banking index outperformed the benchmark index as it closed with minor 0.02% cut at 38210 level

* India VIX closed with 6.02% gain at 17.78 level

* Among Sectors, REALTY and AUTO index underperformed the benchmark index as they closed with 2.61% and 2.38% cut. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 2.06% and 2.45% 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 sellers in the cash segment

* European markets (DAX) and US markets (DJIA) closed lower yesterday. Asian Markets are trading largely lower today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 18000 - 17900 level and resistance at 18250 - 18350 level.

* Banking index is likely to trade in line with the benchmark index today with support at 37800 - 37600 level and resistance at 38700 - 38900 level.

* MCX has closed with bearish candlestick formation accompanied with strong volumes. Stock is likely to continue its negative momentum today as well.

BANK NIFTY (Daily) Chart

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