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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.98% gain at 24708 level yesterday. Banking index lagged the benchmark index as it closed with 0.63% gain at 53603 level.

* India VIX closed with 0.54% gain at 14.52 level.

* Among Sectors, NIFTYIT outperformed the benchmark index as it closed with 1.95% gain while NIFTYREALTY underperformed as it closed with 0.25% cut.

* Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.57% and 0.83% gains respectively.

* Advance/Decline ratio was in favour of advances 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 higher while US markets (DJIA) closed lower yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 24500 - 24400 level and resistance at 24900 - 25000 level.

* Banking index is likely to trade in line with the benchmark index with support at 53000 - 52700 level and resistance at 54300 - 54500 level.

*  RELIANCE 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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