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TECHNICAL OUTLOOK

* Benchmark index traded with mild positive bias before closing with 0.11% gain at 25384 level yesterday. Banking index outperformed the benchmark index as it closed with 0.41% gain at 52153 level

* India VIX closed with 0.72% cut at 12.46 level

* Among Sectors NIFTYMEDIA outperformed the benchmark index as it closed with 0.99% gain while NIFTYFMCG underperformed as it closed with 0.72% cut.

* Broader market performed better than the benchmark index as MIDCAP and SMALLCAP index closed with 0.38% and 0.16% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was lower than 5-day average. FII were net sellers while 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 range bound today. Index has support at 25250 - 25200 level and resistance at 25500 - 25550 level.

* Banking index is likely to perform in line with benchmark index today with support at 51700 - 51500 level and resistance at 52600 - 52800 level.

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

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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