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TECHNICAL OUTLOOK

Benchmark index traded volatile and closed with 0.16% cut at 15782 level. Banking index underperformed the benchmark index as it closed with 1.23% cut at 33121 level

India VIX closed with 3.21% cut at 23.49 level  Among Sectors, AUTO and FMCG index outperformed the benchmark index as they closed with 2.44% and 1.84% gains while METAL and ENERGY index were the laggards as they closed with 2.08% and 1.44% cut respectively. Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 1.03% and 0.94% gains

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 yesterday. However, Asian Markets are trading mixed today.

NIFTY (Daily) Chart

Intraday Market Outlook

Benchmark index is likely to trade volatile today with support at 15650 - 15550 level and resistance at 15950 - 16100 level.

Banking index is likely to trade in line with the benchmark index today with support at 32700 - 32400 level and resistance at 33700 - 34000 level.

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

BANK NIFTY (Daily) Chart

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