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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.28% cut at 25057 level yesterday. Banking index performed better than the benchmark index as it closed with 0.17% gain at 51906 level. ? India VIX closed with 0.06% gain at 13.00 level.

* Among Sectors NIFTYREALTY outperformed the benchmark index as it closed with 2.05% gain while NIFTYMETAL underperformed as it closed with 1.44% cut.

* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.21% and 1.11% gains respectively.

* Advance/Decline ratio was in favour of declines and cash turnover was higher 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. Asian Markets are largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to open lower and trade volatile today. Index has support at 24850 - 24800 level and resistance at 25150 - 25200 level.

* Banking index is likely to perform in line with benchmark index today with support at 51400 - 51200 level and resistance at 52300 - 52500 level.

* ASIANPAINT closed with Doji candlestick pattern near its support level. It is likely to trade with a positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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