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Nifty

* Nifty consolidated for yet another session and ended marginally higher.

* Muted session was witnessed on the sectoral front too. Selective buying in energy, FMCG and auto kept the traders busy.

* Traders should continue with “buy on dips” approach till 18,050 is intact in Nifty.

* Maintain caution in stock selection now as we’re seeing mixed trend within sectors.

Banknifty

* Banking index traded in tandem and closed marginally in the green.

* Private banking majors were showing resilience while the PSU pack remains under pressure.

* Reiterate our view that a decisive breakout above 43,500 would fuel fresh momentum.

* Meanwhile, utilize this phase to accumulate private banking majors.

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