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Nifty

* Nifty traded dull on the weekly expiry day and ended marginally lower.

* Weak global cues were weighing on the sentiment however continued buying in select heavyweights from banking, energy and capital goods space capped the decline.

* Though the market tone has turned positive, the participation is limited to a handful of index majors across sectors. Focus on stock selection.

* Global cues and earnings season will continue to induce volatility

Banknifty

* Banking index also remained range bound and ended in the red.

* Decline was led by a dip in the private banking names while the PSU pack took a breather.

* Look comparatively weaker than the Nifty. First hurdle at 20 EMA i.e. 42535 levels.

* Recommend restricting positions as we’ve important banking results over the weekend.

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