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TECHNICAL OUTLOOK

* Benchmark index traded range bound yesterday before closing with 0.15% gain at 22055 level. Banking index lagged the benchmark index as it closed with 0.04% cut at 46575 level.

* India VIX closed with 1.50% gain at 13.89 level.

* Among Sectors NIFTYMETAL index performed better than the benchmark index as it closed with 2.49% gain while NIFTYIT index underperformed as it closed with 1.64% cut.

* Broader market underperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.39% and 0.57% cut respectively.

* Advance/Decline ratio was in favour of declines 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) closed flat while US markets (DJIA) closed higher yesterday. Asian Markets are largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 21900 - 21850 level and resistance at 22150 - 22200 level.

* Banking index is likely to trade in line with the benchmark index today with support at 46300 - 46100 level and resistance at 46900 - 47100 level.

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

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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