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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.13% cut at 15670 level. Banking index underperformed the benchmark index as it closed with 1% cut at 35292 level

* India VIX closed with 1.21% gain at 15.94 level

* Among Sectors, METAL and PSE index outperformed the benchmark index as they closed with 1.35% and 1.25% gains respectively while BANKING index lagged as it closed with 1% cut. Broader market performed better as MID cap and SMALL cap index closed with 0.72% and 0.37% gains respectively

* Advance/Decline ratio was equally split between advances/declines and Cash turnover was higher than 5 day average. FII were net buyers while DII were net sellers in the cash segment

* European markets (DAX) and US markets (DJIA) closed with gains yesterday. Asian markets are trading mixed today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias with support at 15600 - 15500 and resistance at 15800 - 15900 level

* Banking index is likely to trade in a broad range with support at 34800 - 34500 and resistance at 35700 - 36000 level

* GRASIM has closed with bullish candlestick formation above 21 EMA and it is likely to continue its upside momentum today as well

BANK NIFTY (Daily) Chart

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