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NIFTY

* Nifty remained in a consolidation mood and ended almost unchanged, in absence of any major trigger.

* Mixed trend across sectors kept the traders busy. FMCG and IT ended higher while realty, metal and auto traded under pressure.

* We’ll see the reaction to Reliance and ICICI Bank’s numbers in early trade.

* Critical to hold the 17,400-17,500 zone otherwise the recovery would derail.

BANK NIFTY

* Banking index shed nearly half a percent, after the recent phase of outperformance.

* Decline in ICICI Bank, Axis Bank and SBIN pushed the index below 42,000 for a brief.

* Need a decisive close above 42,500 to regain the momentum.

* Meanwhile, continue to accumulate top private banking majors on dips and stay selective in PSU space.

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