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Nifty

* Banking index traded volatile in a broader range and finally settled with marginal gains.

* All constituents, barring Axis Bank and SBIN, ended in the green. ICICI Bank, HDFC BANK Bank were among the top gainers.

* Banknifty showed some positive momentum after retesting the crucial support zone of 44550 level.

* Reiterate our preference for private banks and suggest staying selective in PSU pack.

Banknifty

* We have been witnessing noticeable traction in the metal space and seeing improvement in participation as well.

* VEDL is trading on the verge of a fresh break from a distorted cup and handle pattern which indicates a pause.

* The chart pattern combined with overall favorable sentiment is adding to confirmation. ? We thus recommend creating fresh longs in the mentioned zone.

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