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TECHNICAL OUTLOOK

* Benchmark index traded rangebound before closing flat at 17624 level. Banking index lagged the benchmark index as it closed with 0.36% cut at 42118 level.

* India VIX closed with 2.60% cut at 11.63 level.

* Among Sectors MEDIA index outperformed the benchmark index as it closed with 1.33% gain while REALTY index underperformed as it closed with 2.13% cut. Broader market performed in line with the benchmark index as MIDCAP and SMALLCAP index closed with 0.36% and 0.27% cut respectively.

* Advance/Decline ratio was in favour of declines 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 on Friday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 17550 - 17500 level and resistance at 17750 – 17800 level.

* Banking index is likely to trade in line with the benchmark index today with support at 41900 - 41700 level and resistance at 42600 - 42800 level.

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

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