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NIFTY

* Markets traded volatile and ended almost unchanged amid mixed cues.

* A mixed trend continued on the sectoral front wherein metal and realty posted decent gains while energy and banking remained subdued.

* Nifty failed again to reclaim short term moving average i.e. 20 EMA despite positive global cues.

* Reiterate our view to maintain a negative view on the index and stay stock-specific citing the prevailing outperformance of the broader indices.

BANK NIFTY

* Banking index opened on positive note, but witnessed selling pressure as the day progressed and lost over half a percent.

* Barring Axis Bank, all other private banking major closed in red. Wherein ICICI Bank, HDFC Bank, Indusind Bank and Kotak Bank added the pressure.

* Second failed attempt to sustain above its short term average i.e. 20 DEMA. Next key support comes at 43700.

* Suggest limiting positions and focus more on risk management.

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