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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias before closing with 0.83% gain at 18420 level. Banking index lagged the benchmark index as it closed with 0.45% gain at 43414 level.

* India VIX closed with 3.68% cut at 13.55 level.

* Among Sectors AUTO index outperformed the benchmark index as it closed with 1.59% gain while IT and PSUBANK underperformed the benchmark index as they closed with 0.51% and 0.12% cut respectively. Broader market lagged the benchmark index as both MIDCAP and SMALLCAP index closed with 0.67% and 0.29% gains respectively.

* Advance/Decline ratio was in favour of advances and cash turnover was lower than 5-day average. FII were net sellers while DII were net buyers in the cash segment.

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

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 18300 - 18250 level and resistance at 18500 – 18550 level.

* Banking index is likely to trade in line with benchmark index today with support at 43100 - 42900 level and resistance at 43700 - 43900 level.

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

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