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TECHNICAL OUTLOOK

* Benchmark index traded volatile before closing with 1.01% cut at 18199 level. Banking index underperformed the benchmark index as it closed with 1.71% cut at 42618 level.

* India VIX closed with 12.94% gain at 15.56 level.

* Among Sectors PHARMA index outperformed the benchmark index as it closed with 2.39% gain while MEDIA and PSUBANK underperformed the benchmark index as they closed with 3.03% and 2.85% cut respectively. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 1.40% and 2.18% 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) and US markets (DJIA) closed higher yesterday. Asian Markets are largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 18100 - 18000 level and resistance at 18400 – 18500 level

* Banking index is likely to trade in line with benchmark index today with support at 42300 - 42000 level and resistance at 43000 - 43300 level.

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

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