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TECHNICAL OUTLOOK

* Benchmark index traded rangebound before closing with 0.21% gain at 18857 level. Banking index traded in line with the benchmark index as it closed with 0.21% gain at 43859 level.

* India VIX closed with 1.44% gain at 11.29 level.

* Among Sectors ENERGY index outperformed the benchmark index as it closed with 0.84% gain while METAL index underperformed as it closed with 0.94% cut.

* Broader market performed slightly better than the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.68% and 0.24% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was lower than 5-day average. Both FII and 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 volatile on weekly expiry with support at 18750 - 18700 level and resistance at 18950 – 19000 level

* Banking index is likely to trade in line with the benchmark index today with support at 43500 - 43200 level and resistance at 44200 - 44400 level.

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

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