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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with minor 0.17% cut at 17322 level. Banking index underperformed the benchmark index as it closed with 0.57% cut at 37954 level

* India VIX closed with 0.10% minor cut at 20.59 level

* Among Sectors, REALTY index outperformed as it closed with 1.13% gain while PSUBANK and MEDIA index lagged as they closed with 1.17% and 0.60% cut respectively. Broader market traded mixed as MIDCAP index closed with 0.29% cut while SMALLCAP index closed with 0.73% gain.

* 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 lower yesterday. Asian Markets are trading mixed today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark Index is likely to remain volatile as geopolitical tensions continue to weigh on global equities. Index has support at 17150 - 17050 level and resistance at 17500 - 17600 level.

* Banking index is likely to trade in line with the benchmark index today with support at 37500 - 37200 level and resistance at 38400 - 38700 level.

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

BANK NIFTY (Daily) Chart

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