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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.08% gain at 15812 level. Banking index underperformed the benchmark index marginally as it closed with 0.28% cut at 34951 level

* India VIX closed with 4.40% gain at 14.72 level

* Among Sectors, PSU BANK and ENERGY index outperformed the benchmark index as they closed with 0.58% and 0.51% gains respectively while REALTY index underperformed as it closed with 1.52% cut. Broader market lagged the benchmark index as MID cap and SMALL cap index closed with 0.48% and 0.34% cut respectively

* Advance/Decline ratio was equally split between the two 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) and US markets (DJIA) closed with minor cut yesterday. Asian markets are trading mixed today.

.NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today with support at 15700 - 15600 level and resistance at 15900 - 16000 level

* Banking index is likely to trade range bound with support at 34600 - 34300 level and resistance at 35300 - 35600 level

* DMART 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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