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Nifty

* Nifty traded volatile and lost over half a percent, in continuation to Tuesday’s fall.

* Majority of sectors traded in tandem with the benchmark trend. Realty, IT and metal were among the top losers.

* Nifty has crucial support at the 18050 mark, which also coincides with the short term moving average i.e. 20 EMA. Expect a breather.

* Meanwhile, maintain a focus on stock selection and overnight risk management.

Bank Nifty

* Banking index traded in line with the benchmark and lost nearly half a percent.

* Profit taking in private banking majors like Kotak Bank, ICICI Bank, HDFC Bank and Axis Bank pushed the index lower.

* We expect some consolidation in line with the index. 42600-43000 zone major support.

* Continue with “buy on dips” in private banking majors and stay selective in PSU pack.

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