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TECHNICAL OUTLOOK

* Benchmark index traded range bound on Friday as it closed with 0.24% gain at 21710 level. Banking index slightly lagged the benchmark index as it closed with 0.08% cut at 48159 level.

* India VIX closed with 5.25% cut at 12.63 level.

* Among Sectors NIFTYIT index performed better than the benchmark index as it closed with 1.29% gain while PSUBANK index underperformed as it closed with 0.38% cut.

* Broader market performed in line with the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.19% and 0.61% gains respectively.

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

* European markets (DAX) and US markets (DJIA) closed flat on Friday. Asian Markets are largely trading with negative bias today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 21600 - 21550 level and resistance at 21800 – 21850 level.

* Banking index is likely to trade in line with benchmark index today with support at 47800 - 47600 level and resistance at 48500 - 48700 level.

* TCS has closed with bullish candlestick and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Charts

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