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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias as it closed with 0.68% gain at 17743 level. Banking index outperformed the benchmark index as it closed with 1.23% gain at 42636 level.

* India VIX closed with 0.32% gain at 11.66 level.

* Among Sectors PSUBANK index outperformed the benchmark index as it closed with 2.61% gain while MEDIA index underperformed as it closed with 1.31% cut. Broader market lagged the benchmark index as MIDCAP and SMALLCAP index closed with 0.47% and 0.34% 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 lower while US markets (DJIA) closed higher yesterday. Asian Markets are largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today with support at 17650 - 17600 level and resistance at 17850 – 17900 level.

* Banking index is likely to trade in line with the benchmark index today with support at 42400 - 42200 level and resistance at 43000 - 43200 level.

* SBIN has closed above 21EMA with bullish candlestick and it is likely to trade with positive bias today as well.

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