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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.89% gain at 24768 level on Friday. Banking index underperformed the benchmark index as it closed with 0.69% gain at 53584 level.

* India VIX closed with 1.04% cut at 13.05 level.

* Among Sectors, NIFTYFMCG outperformed the benchmark index as it closed with 1.29% gain while NIFTYMETAL underperformed as it closed with 0.72% cut.

* Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.05% and 0.30% cut respectively.

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

* Both European markets (DAX) and US markets (DJIA) closed lower on Friday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatility today. Index has support at 24550 - 24500 level and resistance at 24900 - 25000 level.

* Banking index is likely to trade in line with the benchmark index with support at 53000 - 52800 level and resistance at 54000 - 54200 level.

* ICICIBANK 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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