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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias before closing with 1.77% cut at 17807 level. Banking index traded in line with benchmark index as it closed with 1.75% cut at 41668 level.

* India VIX closed with 6.4% gain at 16.16 level.

* Among Sectors PSUBANK and MEDIA underperformed the benchmark index as they closed with 6.06% and 4.99% cut respectively. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 3.40% and 4.11% cut respectively.

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

* European markets (DAX) and US markets (DJIA) closed higher on Friday. Asian Markets are trading with minor gains today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 17650 - 17550 level and resistance at 18000 – 18100 level

* Banking index is likely to trade in line with benchmark index today with support at 41200 - 41000 level and resistance at 42200 - 42500 level.

* TATASTEEL has closed below 21day EMA with bearish candlestick and it is likely to continue its negative momentum today as well.

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