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TECHNICAL OUTLOOK

* Benchmark index traded rangebound on weekly expiry before closing with 0.32% cut at 18108 level. Banking index traded in line with the benchmark index as it closed with 0.30% cut at 42329 level.

* India VIX closed with 2.87% cut at 13.96 level.

* Among Sectors PSUBANK index outperformed the benchmark index as it closed with 0.33% gain while MEDIA index underperformed the benchmark index as it closed with 1.00% cut. Broader market traded in line with the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.06% and 0.24% cut respectively.

* 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 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 18250 – 18300 level.

* Banking index is likely to trade in line with benchmark index today with support at 42000 - 41800 level and resistance at 42700 - 42900 level.

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

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