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TECHNICAL OUTLOOK

* Benchmark index traded volatile on Friday before closing with 0.09% gain at 24324 level. Banking index underperformed the benchmark index as it closed with 0.83% cut at 52660 level.

* India VIX closed with 1.24% cut at 12.69 level.

* Among Sectors NIFTYENERGY index performed better than the benchmark index as it closed with 1.62% gain while FINNIFTY index underperformed as it closed with 1.00% cut.

* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.83% and 0.79% gains respectively.

* Advance/Decline ratio was in favour of advances 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 higher on Friday. Asian Markets are largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade range bound 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 today with support at 52200 - 52000 level and resistance at 53000 - 53200 level.

* CIPLA 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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