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Nifty

* Nifty extended decline and ended in red amid mixed global cues.

* All the sectors fizzled under pressure wherein auto, metal and realty were among the top losers.

* The overall tone would remain bearish until the Nifty reclaims 18,500.

* Existence of support around 18,000-18,100 zone may result in a breather.

Banknifty

* Banking index also inched lower and settled with a cut of nearly half a percent.

* Reached closer to the crucial support zone of short term MA i.e. 50 EMA on the daily chart around 42150 levels.

* Chart structure indicates the decline to continue. Crucial support at 41,900.

* Avoid buying or averaging the loss-making trading positions, especially in PSU banking counters.

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