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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.11% cut at 24194 level yesterday. Banking index performed in line with the benchmark index as it closed with 0.03% cut at 52191 level.

* India VIX closed with 0.02% gain at 15.30 level.

* Among Sectors NIFTYIT outperformed the benchmark index as it closed with 1.07% gain while NIFTYAUTO underperformed as it closed with 1.28% cut.

* Broader market traded better than the benchmark index as both MIDCAP and SMALLCAP index closed with 0.02% and 0.82% gains respectively.

*  Advance/Decline ratio was in favour of Declines and cash turnover was higher than the 5-day average. FII were net buyers while DII were net sellers in the cash segment.

* European markets (DAX) closed lower while US markets (DJIA) closed higher yesterday. Asian Markets are largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade range bound today. Index has support at 24050 - 24000 level and resistance at 24350 - 24400 level.

* Banking index is likely to trade volatile on monthly expiry today with support at 51800 - 51500 level and resistance at 52600 - 52900 level.

* BRITANNIA closed with a positive candlestick pattern and it is likely to trade with a positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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