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Nifty

* Nifty traded volatile on the weekly expiry day and ended marginally in the red.

* Pressure in banking and IT majors weighing on sentiment however recovery in FMCG, Auto and metal counters capped the damage

* Slipped below its critical support zone of 18000 levels and almost retested 100 EMA at 17870 levels.

* Indications are pointing toward the negative bias to continue. Stay stock-specific.

BANKNIFTY

* Banking underperformed the benchmark index and lost nearly a percent.

* Breached the pivot at 42900 and retested the crucial support zone of short-term i.e. 50 EMA on the daily chart around 42300 levels.

* Tone has turned negative. Align the trading positions accordingly.

* Investors, on the other hand, can continue with accumulate on dips approach in private banks.

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