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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.19% gain at 18232 level. Banking index performed better than the benchmark index as it closed with 0.51% gain at 43425 level.

* India VIX closed with 2.04% cut at 14.38 level.

* Among Sectors IT index outperformed the benchmark index as it closed with 0.78% gain while MEDIA and METAL underperformed the benchmark index as they closed with 0.70% and 0.53% cut respectively. Broader market traded in line with the benchmark index as MIDCAP and SAMLLCAP index closed with 0.22% and 0.18% gains respectively.

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

* European markets (DAX) closed higher while US markets (DJIA) closed with minor cut yesterday. 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 43000 - 42800 level and resistance at 43800 - 44000 level.

* KOTAKBANK has closed with bullish candlestick and it is likely to continue its positive momentum today as well.

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