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NIFTY

* Nifty traded volatile in a narrow range and ended marginally in the green amid mixed cues

* Most of the sectoral indices continue to reel under pressure. Realty, energy and auto were among the top losers.

* Expect range bound move to continue however the bias would remain on the negative side.

* Recommend maintaining a check on leveraged positions. Broader indices to underperform.

BANKNIFTY

* Banking index also oscillated in a range and closed on a flat note.

* Pressure in the private banking majors pulled the index lower in the final hours.

* Selling could intensify below 38900. Plan the positions accordingly.

* Use this phase to gradually add quality stocks from the private banking space from medium to long term perspective.

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