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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.21% gain at 16630 level. Banking index performed in line with the benchmark index as it closed with 0.20% gain at 34546 level

* India VIX closed with 0.90% cut at 25.35 level

* Among Sectors, PHARMA and PSE index outperformed as they closed with 2.46% and 1.29% gains while AUTO and MNC index underperformed as they closed with 0.40% and 0.28% cut. Broader market performed better than the benchmark index as both MIDCAP and SMALLCAP index closed with 0.61% and 0.91% gains respectively.

* Advance/Decline ratio was in favour of advances 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) closed higher while US markets (DJIA) closed lower on Friday. Asian Markets are trading mixed today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 16450 - 16350 level and resistance at 16750 - 16800 level.

* Banking index is likely to trade in line with benchmark index with support at 34000 - 33700 level and resistance at 35000 - 35300 level.

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

BANK NIFTY (Daily) Chart

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