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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias as it closed with 0.84% gain at 18065 level. Banking index lagged the benchmark index as it closed with 0.54% gain at 43234 level.

* India VIX closed with 4.18% cut at 10.95 level.

* Among Sectors PSUBANK index outperformed the benchmark index as it closed with 2.45% gain while FINNIFTY index underperformed as it closed with 0.34% gain. Broader market performed better than the benchmark index as both MIDCAP and SMALLCAP index closed with 1.32% and 0.91% gains respectively.

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

* European markets (DAX) were shut while US markets (DJIA) closed with minor cut yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to open gap up and trade volatile today. Nifty has support at 18050 - 18000 level and resistance at 18250 – 18300 level

* Banking index is likely to trade in line with the benchmark index today with support at 43000 - 42800 level and resistance at 43700 - 43900 level.

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

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