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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias yesterday as it closed with 0.89% gain at 22821 level. Banking index underperformed the benchmark index as it closed with 0.48% gain at 49292 level.

* India VIX closed with 11.04% cut at 16.80 level.

* Among Sectors NIFTYREALTY index performed better than the benchmark index as it closed with 4.69% gain while NIFTYFMCG index underperformed as it closed with 0.34% cut.

* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 2.24% and 3.29% gains respectively.

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

* European markets (DAX) and US markets (DJIA) closed higher yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 22650 - 22550 level and resistance at 23000 - 23100 level.

* Banking index is likely to trade in line with the benchmark index today with support at 48800 - 48500 level and resistance at 49700 - 50000 level.

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

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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