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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.39% gain at 15880 level. Banking index performed better than the benchmark index as it closed with 0.54% gain at 35771 level

* India VIX closed with 0.57% cut at 12.21 level

* Among Sectors, METAL and REALTY index outperformed the benchmark index as they closed with 2.20% and 1.96% gains respectively while ENERGY and AUTO index lagged as they closed with 0.16% and 0.07% cut. Broader market performed in line with the benchmark index as MID cap and SMALL cap index closed with 0.66% and 0.62% gains respectively

* Advance/Decline ratio was in favour of advances and cash turnover was lower 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 higher yesterday. However, Asian markets are trading lower today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile on weekly expiry with support at 15750 - 15650 level and resistance at 15900 - 16000 level

* Banking index is likely to trade in line with benchmark index with support at 35300 - 35000 level and resistance at 36000 - 36300 level

* SRTRANSFIN 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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