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TECHNICAL OUTLOOK

* Benchmark index traded rangebound as it closed with 0.21% cut at 17856 level. Banking index traded in line with the benchmark index as it closed with 0.01% gain at 41559 level.

* India VIX closed with 2.26% cut at 12.74 level.

* Among Sectors REALTY index outperformed the benchmark index as it closed with 1.36% gain while METAL index underperformed the benchmark index as it closed with 1.82% cut. Broader market performed slightly better than the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.04% and 0.48% gains respectively.

* Advance/Decline ratio was in favour of declines 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 lower while US markets (DJIA) closed higher on Friday. Asian Markets are largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 17700 - 17650 level and resistance at 17950 – 18000 level

* Banking index is likely to trade in line with benchmark index today with support at 41100 - 40900 level and resistance at 41900 - 42100 level.

* HINDALCO has closed below 21EMA with bearish candlestick and it is likely to trade with negative bias today as well

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