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TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday before closing with 0.10% cut at 22643 level. Banking index performed slightly better than the benchmark index as it closed with 0.31% gain at 48730 level.

* India VIX closed with 2.20% cut at 11.35 level.

* Among Sectors NIFTYMETAL index performed better than the benchmark index as it closed with 1.13% gain while NIFTYMEDIA index underperformed as it closed with 1.26% cut.

* Broader market traded mixed as MIDCAP closed with 0.29% cut while SMALLCAP index closed with 0.27% gains.

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

Intraday Market Outlook

* Benchmark index is likely to trade volatile on weekly expiry today. Index has support at 22550 - 22500 level and resistance at 22800 - 22850 level.

* Banking index is likely to trade in line with the benchmark index today with support at 48400 - 48200 level and resistance at 49100 - 49300 level.

* ICICIBANK has closed with bullish candlestick and it is likely to trade with positive bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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