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TECHNICAL OUTLOOK

* Benchmark index traded range bound before closing with 0.14% cut at 24964 level on Friday. Banking index underperformed the benchmark index as it closed with 0.70% cut at 51172 level.

* India VIX closed with 2.04% cut at 13.22 level.

* Among Sectors NIFTYPHARMA outperformed the benchmark index as it closed with 1.19% gain while NIFTYREALTY underperformed as it closed with 0.69% cut.

* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.47% and 0.58% gains respectively.

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

* Both European markets (DAX) and US markets (DJIA) closed higher on Friday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade range bound today. Index has support at 24800 - 24750 level and resistance at 25150 - 25200 level.

* Banking index is likely to perform in line with benchmark index today with support at 50700 - 50500 level and resistance at 51600 - 51800 level.

* HINDUNILVR has closed with bullish candlestick pattern. It is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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