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TECHNICAL OUTLOOK

* Benchmark index traded on negative note before closing with 2.11% cut at 15361 level. Banking index lagged the benchmark index as it closed with 2.17% cut at 32617 level

* India VIX closed with 3.25% gain at 22.87 level

* Among Sectors, METAL and PSE index underperformed the benchmark index as they closed with 5.24% and 3.34% cut. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 2.34% and 3.42% cut respectively.

* Advance/Decline ratio was in favour of declines and cash turnover was higher 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 with deep cuts yesterday. Asian Markets are largely trading lower today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 15150 - 15000 level and resistance at 15500 - 15600 level.

* Banking index is likely to trade in line with the benchmark index today with support at 32000 - 31600 level and resistance at 32900 - 33200 level.

* ULTRACEMCO has closed with bearish candlestick formation below 21 EMA and it is likely to continue its negative price action today as well.

BANK NIFTY (Daily) Chart

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