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TECHNICAL OUTLOOk

* Benchmark index traded volatile before closing with 0.55% gain at 17956 level. Banking index performed better than the benchmark index as it closed with 0.69% gain at 42371 level.

* India VIX closed with 5.34% cut at 14.46 level.

* Among Sectors PSUBANK index outperformed the benchmark index as it closed with 1.35% gain while PHARMA index underperformed the benchmark index as it closed with 0.02% cut. Broader market lagged the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.09% and 0.22% 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) and US markets (DJIA) closed higher on Friday. Asian Markets are largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive bias today with support at 17850 - 17800 level and resistance at 18100 – 18150 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.

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

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