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TECHNICAL OUTLOOK

* Benchmark index traded range bound on Friday before closing with 0.39% gain at 22096 level. Banking index performed in line with the benchmark index as it closed with 0.38% gain at 46863 level.

* India VIX closed with 2.34% cut at 12.22 level. 

* Among Sectors NIFTYREALTY index performed better than the benchmark index as it closed with 1.76% gain and NIFTYIT index underperformed as it closed with 2.33% cut.

* Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.59% and 0.64% gains respectively. 

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

* European markets (DAX) market closed higher while US markets (DJIA) closed lower yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade range bound today. Index has support at 21950 - 21900 level and resistance at 22200 - 22250 level. 

* Banking index is likely to trade in line with the benchmark index today with support at 46500 - 46300 level and resistance at 47200 - 47400 level. 

* TATAMOTORS 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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