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TECHNICAL OUTLOOK

* Benchmark index traded volatile on Tuesday before closing with 0.11% gain at 24613 level. Banking index underperformed in line with the benchmark index as it closed with 0.11% cut at 52397 level.

* India VIX closed with 0.25% gain at 14.22 level.

* Among Sectors NIFTYREALTY index performed better than the benchmark index as it closed with 1.66% gain while NIFTYMEDIA index underperformed as it closed with 1.03% cut.

* Broader market underperformed the benchmark index as both MIDCAP index closed flat while SMALLCAP index closed with 0.08% gains.

* 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) closed lower while US markets (DJIA) closed higher yesterday. However, Asian Markets are trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 24400 - 24350 level and resistance at 24750 - 24800 level.

* Banking index is likely to trade in line with the benchmark index today with support at 51900 - 51700 level and resistance at 52800 - 53000 level.

* HAL closed with bearish candlestick pattern and it is likely to trade with negative bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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