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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.89% gain at 18053 level. Banking index lagged the benchmark index as it closed with 0.16% gain at 42235 level.

* India VIX closed with 2.88% cut at 14.59 level.

* Among Sectors FMCG index outperformed the benchmark index as it closed with 1.20% gain while PSUBANK index underperformed the benchmark index as it closed with 1.84% cut. Broader market lagged the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.06% and 0.13% cut respectively.

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

* European markets (DAX) closed higher 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 17950 - 17900 level and resistance at 18150 – 18250 level

* Banking index is likely to trade in line with benchmark index today with support at 42000 - 41800 level and resistance at 42600 - 42800 level.

* TCS has closed above 21day EMA with bullish candlestick and it is likely to continue its positive momentum today as well.

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