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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.07% gain at 24998 level yesterday. Banking index performed better than the benchmark index as it closed with 1.03% gain at 51530 level.

*  India VIX closed with 4.44% cut at 13.49 level.

* Among Sectors FINNIFTY outperformed the benchmark index as it closed with 0.90% gain while NIFTYPHARMA underperformed as it closed with 2.01% cut.

* Broader market performed mixed as MIDCAP index closed with 0.28% cut while SMALLCAP index closed with 0.19% gain.

* 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. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade range bound 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 51200 - 51000 level and resistance at 51800 - 52000 level.

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

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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