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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias before closing with 0.79% cut at 18269 level. Banking index lagged the benchmark index as it closed with 0.64% cut at 43220 level.

* India VIX closed with 2.46% gain at 14.07 level.

* Among Sectors PSUBANK and REALTY underperformed the benchmark index as they closed with 2.92% and 1.51% cut respectively. Broader market lagged the benchmark index as both MIDCAP and SMALLCAP index closed with 1.44% and 0.96% cut 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) and US markets (DJIA) closed lower on Friday. Asian Markets trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today with support at 18150 - 18100 level and resistance at 18400 – 18450 level

* Banking index is likely to trade in line with benchmark index today with support at 42900 - 42700 level and resistance at 43600 - 43800 level.

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

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