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TECHNICAL OUTLOOK

* Benchmark index traded on a positive note before closing with 0.92% gain at 15699 level. Banking index outperformed the benchmark index as it closed with 1.49% gain at 33627 level

* India VIX closed with 1.58% cut at 20.55 level

* Among Sectors, MEDIA and PSUBANK index outperformed the benchmark index as they closed with 2.54% and 1.98% gains while IT index was the laggard as it closed with 0.89% cut. Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 1.42% and 1.76% 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 on Friday. Asian Markets are following suit and trading higher today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to open higher on supportive global cues and trade with positive bias today. Index has support at 15650 - 15550 level and resistance at 15900 - 16000 level.

* Banking index is likely to trade in line with the benchmark index today with support at 33500 - 33300 level and resistance at 34200 - 34500 level.

* SRTRANSFIN has closed with bullish candlestick formation above 21 EMA and it is likely to continue its positive momentum today as well.

BANK NIFTY (Daily) Chart

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