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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias as it closed with 1.38% gain at 17854 level. Banking index outperformed the benchmark index as it closed with 2.04% gain at 41500 level.

* India VIX closed with 8.49% cut at 14.39 level.

* Among Sectors PSUBANK index outperformed the benchmark index as it closed with 3.07% gain while ENERGY index underperformed the benchmark index as it closed with 1.03% cut. Broader market lagged the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.04% and 0.47% 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 lower on Friday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today with support at 17750 - 17700 level and resistance at 18000 – 18050 level.

* Banking index is likely to trade with positive bias today with support at 41200 - 41000 level and resistance at 42000 - 42200 level.

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

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