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Nifty

* Nifty edged higher and gained over half a percent, tracking upbeat global cues.

* All sectors, barring auto, contributed to the move. Realty, FMCG and pharma were top gainers.

* Surpassed the hurdle at 18,700 again but the key is to hold for further up move.

* Maintain positive tone but avoid going overboard citing a possible rise in volatility.

Banknifty

* Banknifty tested support zone of short term moving average i.e. 20 EMA and inched higher.

* Within the private banking majors, ICICI Bank, Axis Bank and HDFC Bank were the top contributors.

* Seeing consolidation within 43800- 44500. Either side break would trigger next directional move.

* Meanwhile, stay selective and prefer private banking majors over others.

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