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TECHNICAL OUTLOOK

* Benchmark index traded with positive bias as it closed with 0.51% gain at 17812 level. Banking index performed in line with the benchmark index as it closed with 0.46% gain at 41558 level. ? India VIX closed with 2.48% gain at 12.27 level.

* Among Sectors PHARMA index outperformed benchmark index as it closed with 2.23% gain while PSUBANK index underperformed as it closed with 0.64% cut. Broader market performed in line with the benchmark index as both MIDCAP and SAMLLCAP index closed with 0.57% and 0.41% 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) 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 it has support at 17700 - 17650 level and resistance at 17900 – 17950 level.

* Banking index is likely to trade in line with the benchmark index today with support at 41200 - 41000 level and resistance at 41800 - 42000 level.

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

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