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TECHNICAL OUTLOOK

* Benchmark index traded volatile yesterday before closing with 0.18% cut at 23516 level. Banking index outperformed the benchmark index as it closed with 1.90% gain at 51398 level.

* India VIX closed with 5.77% gain at 13.71 level.

* Among Sectors FINNIFTY index performed better than the benchmark index as it closed with 1.59% gain while NIFTYREALTY index underperformed as it closed with 2.83% cut.

* Broader market underperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.97% and 0.46% cut respectively.

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

* European markets (DAX) closed lower while US markets (DJIA) were shut due to holiday 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 23350 - 23300 level and resistance at 23700 - 23750 level.

* Banking index is likely to trade in line with the benchmark index today with support at 50900 - 50700 level and resistance at 52000 - 52200 level.

* BAJAJAUTO closed with bearish candlestick pattern and it is likely to trade with negative bias today.

NIFTY (Daily) Chart

BANK NIFTY (Daily) Chart

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