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NIFTY

* Nifty witnessed profit taking on the monthly expiry day and shed over half a percent.

* On the sectoral front, most sectors closed in red barring Pharma and realty, rallied over 2% each, while auto, private banks and energy lost nearly a percent each.

* We expect Nifty to hold the 19,300- 19,500 zone. Prefer sectors that are showing resilience for fresh positions

* Keeping a check on position sizing and maintaining strict risk management rules in place.

BANK NIFTY

* Bank Nifty undperformed the benchmark index and fell nearly a percent.

* It slipped below 45,700 mark and ended around the day’s low at 45679.30 levels.

* Among the private banking majors, Axis Bank, HDFC Bank and Kotak Bank shed maximum.

* We expect the consolidation to continue. Focus on stock selection.

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