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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.15% gain at 17769 level. Banking index performed in line with the benchmark index as it closed with 0.10% gain at 42678 level.

* India VIX closed with 1.26% cut at 11.52 level.

* Among Sectors PSUBANK index outperformed the benchmark index as it closed with 1.31% gain while MEDIA index underperformed as it closed with 0.72% cut. Broader market performed in line with the benchmark index as MIDCAP and SMALLCAP index closed with 0.01% and 0.19% gains respectively.

* Advance/Decline ratio was in favour of advances 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 gain while US markets (DJIA) closed lower yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 17650 - 17600 level and resistance at 17850 – 17900 level

* Banking index is likely to trade in line with the benchmark index today with support at 42400 - 42200 level and resistance at 43000 - 43200 level.

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

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