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TECHNICAL OUTLOOK

* Benchmark index closed with 0.9% gain at 17354 level. Banking index performed slightly better than the benchmark index as it closed with 1.2% gain at 35481 level

* India VIX closed with 2% cut at 16.2 level

* Among Sectors, METAL and AUTO index outperformed the benchmark index as they closed with 1.9% and 1.7% gains while IT was the laggard as it closed flat. Broader market outperformed the benchmark index as both MIDCAP and SAMLLCAP index closed with 1.4% gains respectively

* Advance/Decline ratio was in favour of advances and cash turnover was lower than 5-day average. Both FII and DII were net buyers in the cash segment

* European markets (DAX) was shut while US markets (DJIA) closed lower on Friday. Asian Markets are largely trading higher today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 17200 - 17100 level and resistance at 17500 - 17600 level.

* Banking index is likely to trade in line with benchmark index today with support at 34900 - 34700 level and resistance at 35900 - 36100 level.

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

BANK NIFTY (Daily) Chart

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