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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias on Friday as it closed with 0.70% gain at 19517 level. Banking index traded in line with the benchmark index as it closed with 0.82% gain at 44880 level.

* India VIX closed with 5.48% cut at 10.57 level.

* Among Sectors IT index outperformed the benchmark index as it closed with 1.55% gain while PSUBANK index underperformed as it closed with 0.70% cut.

* Broader market performed in line with the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.65% and 0.66% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was higher 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 19400 - 19350 level and resistance at 19650 – 19700 level

* Banking index is likely to trade in line with the benchmark index today with support at 44500 - 44300 level and resistance at 45200 - 45400 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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