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TECHNICAL OUTLOOK

* Benchmark index traded rangebound before closing with 0.23% cut at 17619 level. Banking index performed in line with the benchmark index as it closed with 0.26% cut at 42154 level.

* India VIX closed with 0.64% gain at 12.15 level.

* Among Sectors METAL index outperformed the benchmark index as it closed with 0.53% gain while IT index underperformed as it closed with 1.77% cut. Broader market performed in line with the benchmark index as MIDCAP and SAMLLCAP index closed with 0.18% cut and 0.12% gains respectively.

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

* European markets (DAX) closed with minor gain while US markets (DJIA) closed lower 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 17500 - 17450 level and resistance at 17750 – 17800 level

* Banking index is likely to trade in line with the benchmark index today with support at 41800 - 41600 level and resistance at 42500 - 42700 level.

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

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