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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.44% cut at 15294 level. Banking index outperformed the benchmark index as it closed with 0.39% gain at 32743 level

* India VIX closed with 0.48% cut at 22.76 level

* Among Sectors, BANKING and METAL index outperformed the benchmark index as they closed with 0.39% and 0.08% gains while PHARMA and IT were the laggards as they closed with 2.18% and 1.49% cut respectively. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 1.16% and 0.80% cut.

* Advance/Decline ratio was in favour of declines 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 higher on Friday. However, Asian Markets are largely trading lower today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 15150 - 15000 level and resistance at 15400 - 15500 level.

* Banking index is likely to trade in line with the benchmark index today with support at 32300 - 32000 level and resistance at 33100 - 33400 level. 

* ACC has closed with bearish candlestick formation below 21 EMA and it is likely to continue its negative price action today as well.

BANK NIFTY (Daily) Chart

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