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Nifty

* Nifty remained volatile for yet another session and lost nearly half a percent amid mixed cues.

* Decline was widespread wherein metal, energy and auto were among the top losers.

* A decisive close below 18,600 in Nifty may result in a further slide.

* Recommend keeping a check on positions and suggest preferring a hedged approach.

Banknifty

* Banking index also traded in a narrow band and ended marginally lower.

* It tried to surpass the hurdle of 20 EMA at 43800 but a decline in latter half pushed the index lower.

* Mixed trend was witnessed across sector. SBIN, Axis Bank and Kotak Bank pushed the index lower while Indusind Bank and HDFC Bank settled in the green.

* Advise waiting for a decisive breakout from the 43400-44250 zone for the next directional move.

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