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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.19% gain at 17833 level. Banking index outperformed the benchmark index as it closed with 0.51% gain at 40416 level

* India VIX closed with 3.22% cut at 17.72 level

* Among Sectors, AUTO and BANKING index outperformed the benchmark index as they closed with 0.52% and 0.51% gains while INFRA and REALTY index lagged as they closed with 0.46% and 0.47% cut respectively. Broader market performed in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 0.35% and 0.06% gains respectively.

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

* European markets (DAX) and US markets (DJIA) closed higher on Friday. Asian Markets are trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today with support at 17700 - 17600 level and resistance at 17950 - 18000 level

* Banking index is likely to trade in line with the benchmark index today with support at 40100 - 39800 level and resistance at 40700 - 41000 level

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

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