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TECHNICAL OUTLOOK

* Benchmark index traded with volatile yesterday before closing with 0.34% gain at 22197 level. Banking index outperformed the benchmark index as it closed with 1.20% gain at 47094 level.

* India VIX closed with 0.34% gain at 16.07 level.

* Among Sectors NIFTYMEDIA index performed better than the benchmark index as it closed with 2.27% gain while NIFTYIT index underperformed as it closed with 0.87% cut.

* Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.13% and 0.53% cut respectively.

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

* European markets (DAX) and US markets (DJIA) closed lower yesterday. Asian Markets are largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today. Index has support at 22100 - 22050 level and resistance at 22300 - 22350 level.

* Banking index is likely to trade in line with the benchmark index today with support at 46800 - 46600 level and resistance at 47500 - 47700 level.

* KOTAKBANK 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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