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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.60% gain at 24276 level yesterday. Banking index underperformed the benchmark index as it closed with 0.10% gain at 52109 level.

* India VIX closed with 1.91% gain at 14.70 level.

* Among Sectors NIFTYREALTY outperformed the benchmark index as it closed with 3.04% gain while PSUBANK underperformed as it closed with 0.20% cut.

* Broader market traded outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 1.08% and 1.04% gains respectively.

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

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today. Index has support at 24150 - 24100 level and resistance at 24450 - 24500 level.

* Banking index is likely to trade in line with the benchmark index with support at 51700 - 51500 level and resistance at 52600 - 52800 level.

* JSWSTEEL 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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