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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias as it closed with 0.32% gain at 18594 level. Banking index performed in line with the benchmark index as it closed with 0.37% gain at 43101 level.

* India VIX closed with 0.11% gain at 11.13 level.

* Among Sectors AUTO index outperformed the benchmark index as it closed with 1.26% gain while FMCG index underperformed as it closed with 0.45% cut.

* Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.29% and 0.57% gains respectively.

* Advance/Decline ratio was similar at 1:1 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) 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 18500 - 18450 level and resistance at 18700 – 18750 level

* Banking index is likely to trade in line with the benchmark index today with support at 43800 - 43600 level and resistance at 44400 - 44600 level.

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

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