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TECHNICAL OUTLOOK

* Benchmark index traded on a negative note before closing with 1.44% cut at 15413 level. Banking index performed slightly better than the benchmark index as it closed with 1.04% cut at 32845 level

* India VIX closed with 0.76% gain at 21.30 level

* Among Sectors, METAL and MEDIA index underperformed the benchmark index as they closed with 4.87% and 3.50% cut respectively. Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 1.63% and 1.41% cut.

* Advance/Decline ratio was in favour of declines 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 lower yesterday. Asian Markets are trading mixed today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile today on weekly expiry with support at 15300 - 15200 level and resistance at 15500 - 15600 level.

* Banking index is likely to trade in line with the benchmark index today with support at 32500 - 32200 level and resistance at 33200 - 33500 level.

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

BANK NIFTY (Daily) Chart

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