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TECHNICAL OUTLOOK

* Benchmark index trade volatile before closing with 0.75% gain at 18758 level. Banking index lagged the benchmark index as it closed with 0.41% gain at 43231 level.

* India VIX closed with 1.41% gain at 13.80 level.

* Among Sectors, METAL index outperformed the benchmark index as it closed with 1.81% gain while PSUBANK underperformed the benchmark index as it closed with 1.35% cut. Broader market traded in line with the benchmark index as both MIDCAP and SMALLCAP index closed with 1.06% and 0.61% gains respectively.

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

* European markets (DAX) and US markets (DJIA) closed higher yesterday. Asian Markets are following suit and largely trading higher today.

Intraday Market Outlook

* Benchmark index is likely to open higher on the back of supportive global cues and trade with positive bias today. Index has support at 18700 - 18650 level and resistance at 18900 – 19000 level

* Banking index is likely to trade in line with benchmark index today with support at 43000 - 42800 level and resistance at 43600 - 43900 level.

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

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