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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.41% gain at 18203 level. Banking index performed in line with the benchmark index as it closed with 0.50% gain at 43970 level.

* India VIX closed with 3.85% cut at 12.30 level.

* Among Sectors IT index outperformed the benchmark index as it closed with 1.47% gain while PHARMA index underperformed as it closed with 0.96% cut. Broader market lagged the benchmark index as both MIDCAP and SMALLCAP index closed with 0.01% and 0.16% cut 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) closed lower on Friday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today with support at 18100 - 18050 level and resistance at 18350 – 18400 level.

* Banking index is likely to trade in line with the benchmark index today with support at 43700 - 43500 level and resistance at 44300 - 44500 level.

* ICICIBANK has closed above 21EMA with bullish candlestick and it is likely to trade with positive bias today as well.

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