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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing flat at 0.01% gain at 18266 level. Banking index performed in line with the benchmark index as it closed with 0.02% cut at 43198 level.

* India VIX closed with 0.34% gain at 12.67 level.

* Among Sectors IT index outperformed the benchmark index as it closed with 0.73% gain while PSUBANK index underperformed as it closed with 2.75% cut. Broader market lagged the benchmark index as both MIDCAP and SMALLCAP index closed with 0.03% and 0.35% cut respectively.

* Advance/Decline ratio was equal at 1:1 and cash turnover was lower than 5- day average. Both FII and DII were net buyers in the cash segment.

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

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today ahead of key US CPI data. Index has support at 18150 - 18100 level and resistance at 18350 – 18400 level

* Banking index is likely to trade in line with the benchmark index today with support at 42900 - 42700 level and resistance at 43500 - 43700 level.

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

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