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MARKET OVERVIEW

* Benchmark index traded volatile before closing with 0.17% cut at 18052 level. Banking index outperformed the benchmark index as it closed with 0.37% gain at 41298 level.

* India VIX closed with 4.32% cut at 15.94 level.

* Among Sectors, PSU BANK index outperformed the benchmark index as it closed with 2.52% gain while IT and AUTO index underperformed the benchmark index as they closed with 1.18% cut and 0.42% cut respectively. Broader market performed slightly better than the benchmark index as MIDCAP and SMALLCAP index closed with 0.22% and 0.11% gain respectively.

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

* European markets (DAX) and US markets (DJIA) closed lower yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today with support at 17950 - 17850 level and resistance at 18150 - 18250 level

* Banking index is likely to trade in line with benchmark index today with support at 41000 - 40800 level and resistance at 41600 - 41800 level.

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

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