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TECHNICAL OUTLOOK

*Benchmark index traded volatile before closing with 0.24% gain at 16985 level. Banking index lagged the benchmark index as it closed with 0.09% gain at 39431 level.

*India VIX closed with 1.35% gain at 15.44 level.

* Among Sectors PHARMA and FMCG index performed better than the benchmark index as they closed with 1.08% and 0.28% gains respectively while MEDIA index underperformed as it closed with 1.08% cut. Broader market underperformed the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.37% and 1.50% cut respectively.

* Advance/Decline ratio was in favour of advances 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 higher yesterday. Asian Markets are largely trading higher today.

Intraday Market Outlook

*Benchmark index is likely to trade volatile today with support at 16850 - 16800 level and resistance at 17150 – 17200 level

* Banking index is likely to trade in line with the benchmark index today with support at 39000 - 38800 level and resistance at 39800 - 40000 level.

* RELIANCE has closed with bullish candlestick and it is likely to trade with positive bias today as well.

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