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NIFTY

* Nifty traded volatile but finally gained nearly half a percent, in continuation to consolidation phase.

* Meanwhile, metal, auto and pharma posted decent gains while realty remained under pressure.

* Inched closer to the immediate hurdle of 19650. A decisive recovery would be tough without banking.

* Continue with stock-specific trading approach and focus on sectors that are attracting buying interest.

 BANK NIFTY

 Banking index traded volatile and ended marginally lower, under performing the benchmark index.

* Mixed trend was witnessed among the constituents. SBI, Indusind Bank and Kotak Bank were top gainers while ICICI Bank, Axis Bank and AU Bank capped the upsde.

* Banking index trying to defend 44500 support zone, but mixed trend among banking major capping the upside.

* Suggest limiting positions and wait for clarity over the next directional move.

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