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NIFTY

* Nifty traded under pressure on weekly expiry day and lost over half a percent, tracking feeble global cues.

* Most sectors were aligned to the move. Energy, FMCG and IT were among the top losers.

* Seeing a gradual fall in the index but buying interest in select heavyweights providing comfort.

* Maintain our view to focus on stock selection and risk management until the tone changes.

BANK NIFTY

* Banking index traded in narrow range but outperformed the benchmark index and settled slightly lower.

* Interestingly, the PSU pack outperformed the Private banks and witnessed decent traction, wherein Bank Baroda, PNB, SBI took the lead.

* Hovering around the critical support zone of 43800, which coincides with its medium term moving average i.e. 100 EMA.

* Suggest limiting positions and wait for clarity over the next directional move.

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