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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias before closing with 0.62% gain at 18165 level. Banking index traded in line with the benchmark index as it closed with 0.53% gain at 42458 level.

* India VIX closed with 1.49% cut at 14.37 level.

* Among Sectors METAL index outperformed the benchmark index as it closed with 1.65% gain while PSUBANK index underperformed the benchmark index as it closed with 1.25% cut. Broader market lagged the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.46% and 0.17% gains respectively.

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

* European markets (DAX) closed flat 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 18000 - 17950 level and resistance at 18250 – 18300 level.

* Banking index is likely to trade in line with benchmark index today with support at 42000 - 41800 level and resistance at 42800 - 43000 level.

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

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