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TECHNICAL OUTLOOK

* Benchmark index traded rangebound before closing with 0.03% gain at 17624 level. Banking index performed slightly better than the benchmark index as it closed with 0.27% gain at 42270 level.

* India VIX closed with 1.75% cut at 11.94 level.

* Among Sectors AUTO index outperformed the benchmark index as it closed with 0.23% gain while PHARMA index underperformed as it closed with 1.11% cut. Broader market performed in line with the benchmark index as MIDCAP index closed with 0.03% cut while SMALLCAP index closed with 0.1% 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 lower yesterday. Asian Markets are following suit and largely trading lower today.

Intraday Market Outlook

* Benchmark index is likely to trade rangebound today with support at 17500 - 17450 level and resistance at 17750 – 17800 level.

* Banking index is likely to trade in line with the benchmark index today with support at 42000 - 41800 level and resistance at 42600 - 42800 level.

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

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