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TECHNICAL OUTLOOK

* Benchmark index traded volatile on Tuesday before closing with 0.17% cut at 22605 level. Banking index performed in line with the benchmark index as it closed with 0.06% cut at 49397 level.

* India VIX closed with 5.19% gain at 12.87 level.

* Among Sectors NIFTYAUTO index performed better than the benchmark index as it closed with 1.82% gain while NIFTYIT index underperformed as it closed with 1.13% cut

* Broader market performed in line with the benchmark index as MIDCAP closed with 0.07% gain while SMALLCAP index closed with 0.04% cut.

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

* European markets (DAX) closed lower while US markets (DJIA) closed higher yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile on weekly expiry today. Index has support at 22500 - 22450 level and resistance at 22750 - 22800 level.

* Banking index is likely to trade in line with the benchmark index today with support at 49000 - 48800 level and resistance at 49800 - 50000 level.

* ASIANPAINT has closed with bullish candlestick and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Charts

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