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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.29% cut at 24781 level yesterday. Banking index performed in line with the benchmark index as it closed with 0.25% cut at 51962 level.

* India VIX closed with 5.56% gain at 13.76 level.

* Among Sectors NIFTYAUTO outperformed the benchmark index as it closed with 0.42% gain while NIFTYMEDIA underperformed as it closed with 2.83% cut.

* Broader market lagged the benchmark index as both MIDCAP index and SMALLCAP index closed with 1.66% and 1.47% cut 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 lower yesterday. However, Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 24600 - 24550 level and resistance at 24900 - 24950 level.

* Banking index is likely to perform in line with benchmark index today with support at 51500 - 51300 level and resistance at 52400 - 52600 level.

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

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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