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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 0.77% cut at 16945 level. Banking index performed better than the benchmark index as it closed with 0.56% cut at 39395 level.

* India VIX closed with 5.18% gain at 15.24 level.

* Among Sectors IT and FMCG index performed better than the benchmark index as they closed with 0.23% and 0.46% cut respectively while MEDIA index underperformed as it closed with 2.38% cut. Broader market underperformed the benchmark index as both MIDCAP and SAMLLCAP index closed with 1.25% and 1.37% cut respectively.

* Advance/Decline ratio was in favour of declines 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 on Friday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 16800 - 16750 level and resistance at 17100 – 17150 level.

* Banking index is likely to trade in line with the benchmark index today with support at 39000 - 38800 level and resistance at 39800 - 40000 level.

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

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