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TECHNICAL OUTLOOK

* Benchmark index traded range bound before closing with 0.11% cut at 23727 level on Tuesday. Banking index performed in line with the benchmark index as it closed with 0.16% cut at 51233 level.

* India VIX closed with 2.53% cut at 13.17 level.

* Among Sectors, NIFTYAUTO outperformed the benchmark index as it closed with 0.57% gain while NIFTYMETAL underperformed as it closed with 0.83% cut.

* Broader market traded mixed as MIDCAP index closed with 0.06% cut while SMALLCAP index closed with 0.24% gain.

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

* Both European markets (SXXP) and US markets (DJIA) closed higher on Tuesday. Asian Markets are trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile on Monthly expiry today. Index has support at 23600 - 23500 level and resistance at 23900 - 24000 level.

* Banking index is likely to trade in line with benchmark index with support at 50800 - 50500 level and resistance at 51700 - 52000 level.

* UNITDSPR closed with a bullish candlestick formation on Tuesday and it is likely to trade with a positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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