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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.24% cut at 15690 level. Banking index underperformed the benchmark index as it closed with 0.57% cut at 35072 level

* India VIX closed with 4.57% cut at 12.94 level

* Among Sectors, REALTY and METAL index outperformed the benchmark index as they closed with 2.38% and 1.99% gains respectively while BANKING and PSUBANK index underperformed as they closed with 0.57% and 0.24% cut. Broader market performed better as MID cap and SMALL cap index closed with 0.62% and 0.54% gains respectively

* Advance/Decline ratio was in favour of declines and cash turnover was lower 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 on Friday. Asian markets are following suit and trading higher today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade with positive bias today with support at 15600 - 15500 level and resistance at 15900 - 16000 level

* Banking index is likely to trade in line with the benchmark index with support at 34800 - 34500 level and resistance at 35500 - 35800 level

* DLF 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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