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TECHNICAL OUTLOOK

* Benchmark index traded volatile on August monthly expiry before closing with 0.47% cut at 17522 level. Banking index outperformed the benchmark index as it closed with 0.22% cut at 38951 level

* India VIX closed with 6.19% gain at 19.57 level

* Among Sectors, PSUBANK and REALTY index outperformed the benchmark index as they closed with 2.74% and 1.47% gains while IT and METAL index underperformed as they closed with 0.87% and 0.51% cut respectively. Broader market traded mixed as MIDCAP index closed with 0.06% cut and SMALLCAP index closed with 0.45% gain

* Advance/Decline ratio was in favour of declines and cash turnover was lower than 5-day average. FII were net buyers while DII were net sellers 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 open higher and trade volatile today with support at 17400 - 17300 level and resistance at 17700 - 17800 level

* Banking index is likely to trade in line with the benchmark index today with support at 38600 - 38300 level and resistance at 39400- 39700 level

* PRESTIGE has closed with bullish candlestick formation above 21 EMA and it is likely to continue its positive price action today as well.

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