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TECHNICAL OUTLOOK

* Benchmark index traded range bound before closing with 0.27% gain at 23813 level on Friday. Banking index performed in line with the benchmark index as it closed with 0.27% gain at 51311 level.

* India VIX closed with 5.68% cut at 13.23 level.

* Among Sectors, NIFTYPHARMA outperformed the benchmark index as it closed with 1.30% gain while NIFTYPSE underperformed as it closed with 1.07% cut.

* Broader market traded mixed as MIDCAP index closed with 0.26% cut while SMALLCAP index closed with 0.15% gain.

* 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 (SXXP) closed higher while US markets (DJIA) closed lower on Friday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade range bound with support at 23700 - 23650 level and resistance at 24000 - 24050 level.

* Banking index is likely to trade in line with benchmark index with support at 50900 - 50700 level and resistance at 51700 - 51900 level.

* LUPIN closed with a bullish candlestick formation on Friday and it is likely to trade with a positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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