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TECHNICAL OUTLOOK

▪ Benchmark index traded on a negative note as it closed with 0.25% cut at 17516 level. Banking index underperformed the benchmark index as it closed with 0.57% cut at 38789 level

▪ India VIX closed with 1.36% cut at 18.90 level

▪ Among Sectors, METAL index outperformed as it closed with 1.18% gain while REALTY and PSUBANK index lagged as they closed with 2.76% and 1.92% cut respectively. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.76% and 0.92% cut respectively

▪ 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 lower on Friday. However, Asian Markets are trading mixed today

NIFTY (Daily) Chart

Intraday Market Outlook

▪ Benchmark index is likely to trade volatile today with support at 17350 - 17250 level and resistance at 17650 - 17750 level

▪ Banking index is likely to trade in line with the benchmark index today with support at 38300 - 38000 level and resistance at 39300 – 39500 level

▪ DABUR has closed with bullish candlestick formation and above average volumes. Stock is likely to continue its positive momentum today as wel

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