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Nifty

* Nifty started the week on a subdued note and settled marginally lower.

* Profit taking in banking, energy, auto and FMCG majors gradually pushed the index lower. Select IT and financials majors capped the damage.

* Expect the positive trend to continue. Focus on other key sectors like auto, FMCG, energy and selectively in midcap & smallcap space for fresh longs.

* Performance of the US markets will remain in focus for cues

Banknifty

* Banking index traded volatile and lost over half a percent, in continuation to prevailing tone.

* Decline in private banking majors viz. ICICI Bank, Kotak Bank, Axis Bank and Indusind Bank was weighing on sentiment.

* Interestingly, select PSU banking names like Bank of Baroda and Canara Bank showed noticeable resilience.

* A decline below 43,400 may further add to the pressure. Maintain caution.

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