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TECHNICAL OUTLOOK

* Benchmark index traded with mild positive bias today as it closed with 0.21% gain at 18756 level. Banking index slightly lagged the benchmark index as it closed with 0.21% cut at 43988 level.

* India VIX closed with 0.47% cut at 11.16 level.

* Among Sectors METAL index outperformed the benchmark index as it closed with 1.42% gain while MEDIA index underperformed as it closed with 0.56% cut.

* Broader market performed better than the benchmark index as both MIDCAP and SMALLCAP index closed with 0.20% and 0.42% gains respectively.

* Advance/Decline ratio was in favour of Advances and cash turnover was higher than 5-day average. FII were net buyers while DII were net sellers in the cash segment.

* European markets (DAX) closed higher while US markets (DJIA) closed lower after US FOMC meeting yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today with support at 18650 - 18600 level and resistance at 18850 – 18900 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.

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

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