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How to find out the anode & cathode of a diode using a multimeter?

Diodes are very cheap in cost, so it is a general thing that every electronic hobbyist has large number of diodes in his/her stock. When you pick up a diode from your stock, sometimes the cathode marking band on the body of diode, may be wiped out, so its difficult to find our the anode and cathode just by looking at it.
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