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TECHNICAL OUTLOOK

* Benchmark index traded range bound yesterday before closing with 0.18% cut at 21418 level. Banking index lagged the benchmark index as it closed with 0.57% cut at 47867 level.

* India VIX closed with 5.88% gain at 13.90 level.

* Among Sectors MEDIA index outperformed the benchmark index as it closed with 1.18% gain while REALTY index underperformed as it closed with 0.96% cut.

* Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.28% and 0.48% gains respectively.

* Advance/Decline ratio was in favour of declines 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 lower while US markets (DJIA) closed flat yesterday. Asian Markets are trading mixed today.

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 21350 - 21300 level and resistance at 21550 – 21600 level.

* Banking index is likely to trade in line with benchmark index today with support at 47600 - 47400 level and resistance at 48200 - 48400 level.

* BIOCON has closed with bullish candlestick and it is likely to trade with positive bias today.

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