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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.22% gain at 17398 level. Banking index performed slightly better than the benchmark index as it closed with 0.50% gain at 40813 level.

* India VIX closed with 2.71% cut at 12.58 level.

* Among Sectors PSUBANK index performed better than the benchmark index as it closed with 1.06% gain while METAL index underperformed as it closed with 0.36% cut. Broader market performed better than the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.36% and 1.17% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was lower 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 yesterday. Asian Markets are largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 17300 - 17250 level and resistance at 17500 – 17550 level

* Banking index is likely to trade in line with the benchmark index today with support at 40500 - 40300 level and resistance at 41200 - 41400 level.

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

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