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Nifty

* Nifty started the week on a feeble note and lost nearly half a percent.

* A handful of heavyweights were dictating the trend. Profit taking in the IT majors was largely weighing on sentiment.

* Noticeable pressure on the broader front. Pushing the market breadth on the declining side.

* A decisive close below 17650 in Nifty could further add to the pressure. Meanwhile, maintain positions on both sides.

BankNifty

* BankNifty also traded in line with the benchmark and shed over half a percent.

* The selling was widespread wherein the PSUs were beaten down badly.

* Expect pressure to intensify below the 41100 mark while the upside is capped at 41,900.

* Prefer PSUs over private banking names for short trades.

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