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TECHNICAL OUTLOOK

* Benchmark index traded volatile today before closing with 0.38% gain at 18191 level. Banking index outperformed the benchmark index as it closed with 0.99% gain at 43252 level.

* India VIX closed with 3.78% cut at 14.81 level.

* Among Sectors METAL index outperformed the benchmark index as it closed with 1.08% gain while MEDIA and FMCG underperformed the benchmark index as they closed with 0.64% and 0.18% cut respectively. Broader market lagged the benchmark index as MIDCAP index closed with 0.09% cut while SAMLLCAP index closed with 0.22% gain.

* 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 yesterday. Asian Markets are following suit and trading higher today.

Intraday Market Outlook

* Benchmark index is likely to trade with mild positive today with support at 18100 - 18050 level and resistance at 18350 – 18400 level.

* Banking index is likely to trade in line with benchmark index today with support at 43000 - 42800 level and resistance at 43700 - 44000 level.

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

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