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TECHNICAL OUTLOOK

* Benchmark index traded volatile as it closed with 0.38% gain at 15842 level. Banking index outperformed the benchmark index as it closed with 1.44% gain at 33598 level

* India VIX closed with 4.43% gain at 24.53 level  Among Sectors, PSUBANK and REALTY index outperformed the benchmark index as they closed with 2.91% and 2.61% gains while IT and FMCG index were the laggards as they closed with 0.75% and 0.35% cut respectively. Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 1.25% and 1.12% gains

* 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 lower while US markets (DJIA) closed with minor gain yesterday. Asian Markets are largely trading higher today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to remain volatile today with support at 15700 - 15600 level and resistance at 16000 - 16100 level.

* Banking index is likely to trade in line with the benchmark index today with support at 33300 - 33000 level and resistance at 34000 - 34300 level.

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

BANK NIFTY (Daily) Chart

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