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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias yesterday before closing with 0.78% gain at 23721 level. Banking index outperformed the benchmark index as it closed with 1.74% gain at 52606 level.

* India VIX closed with 1.81% gain at 14.31 level.

* Among Sectors FINNIFTY index performed better than the benchmark index as it closed with 1.90% gain while NIFTYREALTY index underperformed as it closed with 1.75% cut.

* Broader market traded mixed as MIDCAP index closed with 0.38% cut while SMALLCAP index closed with 0.14% gain.

* Advance/Decline ratio was in favour of advances and cash turnover was lower 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 lower yesterday. Asian Markets are largely trading higher today. Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 23600 - 23550 level and resistance at 23900 - 23950 level.

* Banking index is likely to trade volatile today with support at 52200 - 52000 level and resistance at 53100 - 53300 level.

* RELIANCE 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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