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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias as it closed with 1.35% gain at 18101 level. Banking index traded in line with the benchmark index as it closed with 0.93% gain at 42583 level.

* India VIX closed with 2.48% gain at 14.65 level.

* Among Sectors IT and ENERGY index outperformed the benchmark index as they closed with 2.83% and 1.69% gains respectively while REALTY index slightly lagged the benchmark index as it closed with 0.61% gain. Broader market lagged the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.93% and 0.50% 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 higher while US markets (DJIA) gave up gains and closed lower yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today with support at 18000 - 17950 level and resistance at 18200 – 18250 level.

* Banking index is likely to trade in line with benchmark index today with support at 42200 - 42000 level and resistance at 43000 - 43200 level.

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

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