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TECHNICAL OUTLOOK

* Benchmark index closed with 0.77% gain at 15885 level. Banking index lagged the benchmark index as it closed with 0.36% gain at 34710 level

* India VIX closed with 0.08% gain at 12.81 level

* Among Sectors, REALTY and ENERGY index outperformed the benchmark index as they closed with 4.79% and 1.56% gains while IT index underperformed as it closed flat. Broader market performed better than the benchmark index as MID cap and SMALL cap index closed with 1.56% and 0.91% gains respectively 

* Advance/Decline ratio was in favour of advances and cash turnover was lower than 5 day average. FII were net sellers while DII were net buyers in the cash segment

* European markets (DAX) closed with minor gain while US markets (DJIA) closed with minor cut yesterday. Asian markets are trading lower today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade range bound today with support at 15750 - 15650 level and resistance at 15950 - 16000 level

* Banking index is likely to trade in line with benchmark index today with support at 34400 - 34200 level and resistance at 35000 - 35200 level

* RECLTD closed with bullish candlestick formation above 21 EMA and it is likely to continue its upside momentum today as well

BANK NIFTY (Daily) Chart

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