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TECHNICAL OUTLOOK

* Benchmark index traded range bound before closing with 0.05% gain at 24823 level on Friday. Banking index underperformed the benchmark index as it closed with 0.10% loss at 50933 level.

* India VIX closed with 4.25% gain at 13.55 level.

* Among Sectors NIFTYAUTO outperformed the benchmark index as it closed with 1.12% gain while NIFTYREALTY index underperformed as it closed with 2.43% cut.

* Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.49% and 0.11% cut respectively.

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

* European markets (DAX) and US markets (DJIA) closed higher on Friday. However, Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade with a positive bias today. Index has support at 24750 - 24700 level and resistance at 25000 - 25100 level.

* Banking index is likely to trade in line with the benchmark index today with support at 50600 - 50400 level and resistance at 51500 - 51700 level.

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

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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