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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.21% cut at 24148 level on Friday. Banking index underperformed the benchmark index as it closed with 0.68% cut at 51561 level.

* India VIX closed with 3.15% cut at 14.47 level.

* Among Sectors NIFTYIT outperformed the benchmark index as it closed with 0.71% gain while NIFTYREALTY underperformed as it closed with 2.90% cut.

* Broader market underperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 1.33% and 1.70% cut respectively.

* 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.

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

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 24000 - 23950 level and resistance at 24350 - 24400 level.

* Banking index is likely to perform in line with benchmark index today with support at 51200 - 51000 level and resistance at 52000 - 52200 level.

* NESTLEIND 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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