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TECHNICAL OUTLOOK

* Benchmark index traded volatile on Friday before closing with 0.72% cut at 21854 level. Banking index underperformed the benchmark index as it closed with 0.47% cut at 45971 level.

* India VIX closed with 1.68% gain at 14.69 level.

* Among Sectors NIFTYPSE index performed better than the benchmark index as it closed with 3.37% gain while FINNIFTY index underperformed as it closed with 0.40% cut.

* Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.37% and 0.93% gains respectively.

* Advance/Decline ratio was in favour of advances 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. Asian Markets are trading with negative bias today.

Intraday Market Outlook

* Benchmark index is likely to trade with negative bias today. Index has support at 21700 - 21650 level and resistance at 21950 – 22000 level.

* Banking index is likely to trade in line with the benchmark index today with support at 45500 - 45300 level and resistance at 46300 - 46500 level.

* AXISBANK has closed with bearish candlestick and it is likely to trade with negative bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Charts

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