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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.08% cut at 24347 level yesterday. Banking index performed better than the benchmark index as it closed with 0.19% gain at 50578 level.

* India VIX closed with 3.47% gain at 15.86 level.

* Among Sectors NIFTYREALTY index performed better than the benchmark index as it closed with 1.32% gain while NIFTYMEDIA index underperformed as it closed with 2.05% cut.

* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP closed with 0.27% and 0.19% gains 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) closed flat while US markets (DJIA) closed lower yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade range bound today. Index has support at 24200 - 24150 level and resistance at 24500 - 24550 level.

* Banking index is likely to trade in line with the benchmark index today with support at 50000 - 49800 level and resistance at 51000 - 51200 level.

* AXISBANK 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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