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TECHNICAL OUTLOOK

* Benchmark index recovered from lower levels before closing with 1.3% gain at 18103 level. Banking index underperformed the benchmark index as it closed with 0.5% cut at 38733 level

* India VIX closed with 7% cut at 15.2 level

* Among Sectors, IT and REALTY index performed better than the benchmark index as they closed with 2.1% and 1.7% gains respectively. Broader market underperformed the benchmark index as MIDCAP and SMALLCAP indices closed with 0.5% and 0.3% cut respectively.

* Advance/Decline ratio (Nifty stocks) 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) closed with minor gains while US markets (DJIA) closed with 0.5% gains on Friday. Asian markets are largely trading higher today

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today with support at 18000-17900 level and resistance at 18250-18350 level

* Banking index is likely to trade in line with benchmark index with support at 38450 - 38200 level and resistance at 39000 - 39300 level

* TECHM has closed with bullish candlestick formation with volume support, and it is likely to continue its upside momentum today as well

BANK NIFTY (Daily) Chart

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