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Nifty

* Nifty traded under pressure and lost nearly a percent amid mixed cues

* Most sectoral indices ended lower. Auto, IT and FMCG were among the top losers.

* Nifty is again at 200 EMA. It should hold 17450 else the tone would again turn bearish.

* Maintain caution while selecting stocks and focus more on overnight risk management.

Banknifty

* Banking index also drifted lower in line with the fall in benchmark and lost over half a percent.

* Dip in ICICI Bank, Kotak Bank and SBIN kept the tone negative while Axis Bank showed resilience.

* We recommend staying selective while keeping a check on the position size.

* Within the private banking space, Axis Bank, Indusind Bank and Federal Bank look firm.

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