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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias on weekly expiry before closing with 0.29% gain at 18812 level. Banking index lagged the benchmark index as it closed with 0.07% gain at 43261 level.

* India VIX closed with 3.24% gain at 13.36 level. ? Among Sectors, IT index outperformed the benchmark index as it closed with 2.40% gain while ENERGY and FMCG underperformed the benchmark index as it closed with 0.62% and 0.36% cut respectively. Broader market performed better than the benchmark index as both MIDCAP and SMALLCAP index closed with 0.62% and 0.63% gains respectively. ? Advance/Decline ratio was in favour of declines and FII were net sellers while DII were net buyers in the cash segment.

* European markets (DAX) closed higher while US markets (DJIA) closed lower yesterday. Asian Markets are largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today with support at 18700 - 18650 level and resistance at 18900 – 19000 level.

* Banking index is likely to trade in line with benchmark index today with support at 42900 - 42700 level and resistance at 43500 - 43700 level.

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

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