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TECHNICAL OUTLOOK

* Benchmark index traded with volatile yesterday before closing with 0.45% gain at 21840 level. Banking index outperformed the benchmark index as it closed with 0.89% gain at 45908 level.

* India VIX closed with 2.36% cut at 15.43 level.

* Among Sectors NIFTYPSE index performed better than the benchmark index as it closed with 3.34% gain while NIFTYIT index underperformed as it closed with 1.12% cut.

* Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 1.04% and 1.61% gains 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 higher yesterday. Asian Markets trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile on weekly expiry today. Index has support at 21750 - 21700 level and resistance at 22000 - 22050 level.

* Banking index is likely to trade in line with the benchmark index today with support at 45600 - 45400 level and resistance at 46300 - 46500 level.

* INDUSINDBK 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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