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TECHNICAL OUTLOOK

* Benchmark index traded with negative bias on Friday before closing with 0.42% cut at 19542 level. Banking index performed slightly better than the benchmark index as it closed with 0.07% cut at 43723 level.

* India VIX closed with 0.73% cut at 10.81 level.

* Among Sectors FINNIFTY index outperformed the benchmark index as it closed with 0.02% cut while PSUBANK index underperformed as it closed with 1.57% cut.

* Broader market performed in line with the benchmark index as MIDCAP and SMALLCAP index closed with 1.02% cut and 0.76% cut respectively.

* Advance/Decline ratio was in favour of declines and cash turnover was lower than 5-day average. Both FII and DII were net buyers in the cash segment.

* European markets (DAX) and US markets (DJIA) closed lower on Friday. Asian Markets are following suit and trading lower today. 

Intraday Market Outlook

* Benchmark index is likely to trade volatile today with support at 19400 - 19350 level and resistance at 19650 – 19700 level.

* Banking index is likely to trade in line with the benchmark index today with support at 43300 - 43100 level and resistance at 44000 - 44200 level.

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

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