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TECHNICAL OUTLOOK

* Benchmark index traded on a positive note before closing with 0.72% gain at 17666 level. Banking index outperformed the benchmark index as it closed with 0.98% gain at 39806 level

* India VIX closed with 0.56% gain at 19.66 level

* Among Sectors, MEDIA and METAL index outperformed the benchmark index as they closed with 2.75% and 1.67% gains while MNC index was the laggard as it closed with 0.27% cut. Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.38% and 1.19% gains respectively.

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

* European markets (DAX) closed lower while US markets (DJIA) were shut due to holiday yesterday. Asian Markets are trading with marginal gains today.

Intraday Market Outlook

* Benchmark index is likely to trade range bound today with support at 17550 - 17450 level and resistance at 17800 - 17900 level

* Banking index is likely to trade in line with the benchmark index today with support at 39500 - 39200 level and resistance at 40200 – 40500 level

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

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