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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.38% gain at 24951 level. Banking index underperformed the benchmark index as it closed with 0.11% gain at 51553 level.

* India VIX closed with 2.87% gain at 13.25 level.

* Among Sectors NIFTYMETAL index performed better than the benchmark index as it closed with 1.22% gain while NIFTYPSUBANK index underperformed as it closed with 0.43% cut.

* Broader market traded mixed as MIDCAP index closed with 0.63% gain while SMALLCAP index closed with 0.36% cut.

* 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) and US markets (DJIA) closed higher yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to open higher and trade volatile on weekly expiry today. Index has support at 24800 - 24750 level and resistance at 25150 - 25200 level.

* Banking index is likely to trade in line with the benchmark index today with support at 51200 - 51000 level and resistance at 52100 - 52300 level.

* RELIANCE 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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