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NIFTY

* Nifty extended the decline on the weekly expiry day and lost over half a percent.

* Most sectors traded in sync and ended lower. Realty, banking and financials were among the top losers.

* Recent drift in the global indices is putting pressure now. Expect the negative tone to continue.

* Reiterate our view to keep a check on positions and focus more on risk management.

BANKNIFTY

* Banking index extended its losses for the third consecutive session and shed over a percent.

* Most constituents ended in red, wherein ICICI Bank, SBI, Axisbank and Indusind bank were among the top losers.

* Breached the support at 44500. Sustainability below that mark will further deteriorate the tone.

* Avoid aggressive longs and wait for clarity over the next directional move.

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