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TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday before closing with 0.08% cut at 22434 level. Banking index performed better than the benchmark index as it closed with 0.17% gain at 47624 level.

* India VIX closed with 2.40% cut at 11.37 level.

* Among Sectors NIFTYPSUBANK index performed better than the benchmark index as it closed with 1.78% gain while NIFTYREALTY index underperformed as it closed with 2.58% cut.

* Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.52% and 1.16% gains respectively.

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

Intraday Market Outlook

* Benchmark index is likely to trade volatile on weekly expiry today. Index has support at 22350 - 22300 level and resistance at 22550 - 22600 level.

* Banking index is likely to trade in line with the benchmark index today with support at 47300 - 47100 level and resistance at 48000 - 48200 level.

* TCS 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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