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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias on Friday as it closed with 0.56% cut at 18665 level. Banking index performed better than the benchmark index as it closed with 0.23% cut at 43623 level.

* India VIX closed with 2.71% cut at 11.23 level.

* Among Sectors PHARMA index outperformed the benchmark index as it closed with 0.15% gain while METAL index underperformed as it closed with 2.48% cut.

* Broader market underperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 1.24% and 1.17% cut respectively.

* Advance/Decline ratio was in favour of declines and cash turnover was lower than 5-day average. Both FII and DII were net sellers 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 18550 - 18500 level and resistance at 18750 – 18800 level

* Banking index is likely to trade in line with the benchmark index today with support at 43300 - 43100 level and resistance at 43900 - 44100 level.

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

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