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TECHNICAL OUTLOOK

* Benchmark index closed with minor 0.29% gain at 18308 level. Banking index underperformed the benchmark index as it closed with 0.40% cut at 38216 level

* India VIX closed with 1.27% gain at 16.77 level

* Among Sectors, AUTO and REALTY index outperformed the benchmark index as they closed with 2.05% and 1.28% gains while PHARMA and BANKING index lagged as they closed with 0.73% and 0.40% cut respectively. Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.16% and 0.60% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was lower than 5-day average. Both FII and DII were net sellers in the cash segment

* European markets (DAX) closed higher while US markets (DJIA) were closed due to holiday yesterday. Asian Markets are trading largely higher today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today with support at 18200 - 18100 level and resistance at 18450 - 18550 level.

* Banking index is likely to trade with volatile price action today with support at 37800 - 37600 level and resistance at 38600 - 38800 level.

* CANFINHOME has closed with bullish candlestick formation accompanied with strong volumes. Stock is likely to continue its positive momentum today as well.

BANK NIFTY (Daily) Chart

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