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TECHNICAL OUTLOOK

* Benchmark index closed with 1.46% gain at 17930 level. Banking index performed slightly better than the benchmark index as it closed with 1.66% gain at 39764 level.

* India VIX closed with 1.09% cut at 17.24 level

* Among Sectors, REALTY and METAL indices outperformed the benchmark index as they closed with 4.03% and 3.06% gain. Broader market performed in line with the benchmark index as MIDCAP and SMALLCAP index closed with 1.82% and 0.86% 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) and US markets (DJIA) closed with gains yesterday. Asian markets are largely trading positive today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today with support at 17800 - 17700 level and resistance at 18100 - 18200 level

* Banking index is likely to trade in line with the benchmark index today with support at 39500 - 39200 level and resistance at 40200 - 40500 level

* BALKRISIND has closed with bullish candlestick and trading above 21 EMA. Stock is likely to continue its upside momentum today as well.

BANK NIFTY (Daily) Chart

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