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MARKET OVERVIEW

* Benchmark index traded volatile on weekly expiry before closing with 0.30% gain at 17564 level. Banking index underperformed the benchmark index as it closed with 0.68% cut at 40100 level.

* India VIX closed with 1.46% cut at 17.23 level.

* Among Sectors, PSU BANK index outperformed the benchmark index as it closed with 1.88% gain while FIN SERVICE and REALTY index underperformed the benchmark index as they closed with 0.20% and 0.13% cut respectively. Broader market traded in line with benchmark index as MIDCAP and SMALLCAP index closed with 0.30% and 0.01% cut respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was higher than 5-day average. FII were net buyers while DII were net sellers in the cash segment

* European markets (DAX) closed higher while US markets (DJIA) closed lower yesterday. Asian Markets are largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade range bound today with support at 17450 - 17350 level and resistance at 17650 - 17750 level

* Banking index is likely to trade in line with benchmark index today with support at 39800 - 39600 level and resistance at 40400 - 40700 level

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

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