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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.27% gain at 18315 level. Banking index performed in line with the benchmark index as it closed with 0.31% gain at 43331 level.

* India VIX closed with 3.19% gain at 13.08 level.

* Among Sectors MEDIA index outperformed the benchmark index as it closed with 1.36% gain while PSUBANK index underperformed as it closed with 1.06% cut. Broader market traded in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.34% and 0.33% gains respectively.

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

* European markets (DAX) and US markets (DJIA) closed lower post US CPI data release 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 18200 - 18150 level and resistance at 18450 – 18500 level

* Banking index is likely to trade in line with the benchmark index today with support at 43000 - 42800 level and resistance at 43600 - 43800 level.

* KPITTECH has closed above 21EMA with bullish candlestick and it is likely to trade with positive bias today as well.

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