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TECHNICAL OUTLOOK

* Benchmark index traded rangebound on weekly expiry day as it closed with 0.12% gain at 17893 level. Banking index traded in line with the benchmark index as it closed with 0.04% gain at 41554 level.

* India VIX closed with 4.08% cut at 13.04 level.

* Among Sectors IT index outperformed the benchmark index as it closed with 0.70% gain while METAL index underperformed the benchmark index as it closed with 1.58% cut. Broader market lagged the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.01% cut and 0.15% cut respectively.

* Advance/Decline ratio was 1:1 and cash turnover was lower than 5-day average. FII and 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 17750 - 17650 level and resistance at 17950 – 18000 level.

* Banking index is likely to trade in line with benchmark index today with support at 41100 - 40800 level and resistance at 41900 - 42100 level.

* HINDUNILIVER has bounced back from its support level and it is likely to continue its upside momentum today as well.

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