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TECHNICAL OUTLOOK

* Benchmark index closed with 0.44% gain at 15924 level. Banking index outperformed the benchmark index as it closed with 0.67% gain at 35908 level

* India VIX closed with 2.54% cut at 12.27 level

* Among Sectors, REALTY and IT index outperformed the benchmark index as it closed with 4.20% and 1.29% gains respectively while PSE and ENERGY index underperformed as they closed with 0.73% and 0.45% cut. Broader market performed in line with benchmark index as both MID cap and SMALL cap index closed with 0.48% and 0.95% gains respectively

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

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

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today with support at 15800 - 15700 level and resistance at 16000 - 16100 level

* Banking index is likely to trade in line with the benchmark index with support at 35600 - 35300 level and resistance at 36200 - 36500 level

* SRF has 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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