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TECHNICAL OUTLOOK

* Benchmark index traded rangebound before closing with 0.51% gain at 18197 level. Banking index traded in line with the benchmark index as it closed with 0.50% gain at 43203 level.

* India VIX closed with 1.23% cut at 14.68 level.

* Among Sectors METAL index outperformed the benchmark index as it closed with 2.43% gain while PHARMA and CONSUMPTION underperformed the benchmark index as they closed with 0.37% and 0.05% cut respectively. Broader market performed slightly better than the benchmark index as MIDCAP and SAMLLCAP index closed with 0.57% and 0.84% gain respectively.

* Advance/Decline ratio was in favour of advances. FII were net sellers while DII were net buyers in the cash segment

* European markets (DAX) closed higher while US markets (DJIA) were shut yesterday due to holiday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 18100 - 18050 level and resistance at 18300 – 18350 level

* Banking index is likely to trade in line with benchmark index today with support at 42900 - 42700 level and resistance at 43500 - 43700 level.

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

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