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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias as it closed with 0.56% cut at 17844 level. Banking index lagged the benchmark index as it closed with 1.05% cut at 40701 level.

* India VIX closed with 2.27% gain at 13.38 level.

* Among Sectors IT index outperformed the benchmark index as it closed with 0.54% gain while PSUBANK index underperformed the benchmark index as it closed with 1.11% cut. Broader market traded in line with the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.12% and 0.16% cut respectively.

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

* European markets (DAX) closed with minor cut while US markets (DJIA) were shut due to holiday yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today Index has support at 17750 - 17700 level and resistance at 17950 – 18000 level

* Banking index is likely to trade in line with benchmark index today with support at 40300 - 40000 level and resistance at 41000 - 41200 level.

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

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