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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing flat at 18497 level. Banking index performed better than the benchmark index as it closed with 0.17% gain at 43709 level.

* India VIX closed with 1.19% cut at 13.31 level.

* Among Sectors, PSUBANK index outperformed the benchmark index as it closed with 1.40% gain while IT and PHARMA underperformed the benchmark index as they closed with 0.40% and 0.13% cut respectively. Broader market outperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 0.30% and 0.36% 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) closed lower while US markets (DJIA) closed higher yesterday. Asian Markets are largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 18400 - 18350 level and resistance at 18650 – 18700 level.

* Banking index is likely to trade in line with benchmark index today with support at 43400 - 43200 level and resistance at 44000 - 44200 level.

* MARICO has closed above 21day EMA with bullish candlestick and it is likely to continue its positive momentum today as well.

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