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Nifty

* Nifty witnessed a rebound and gained nearly a percent amid volatility ·

* Recovery in the energy and FMCG majors kept the participants busy while others traded mixed.

* Inching towards the immediate hurdle of 18100 levels and its break may result in further rebound to 18250-18350 zone.

* Meanwhile, stay stock-specific and focus on risk management. Earnings from the Nifty 50 counters may further add to the volatility.

Banknifty

* Banking index underperformed the benchmark and ended with modest gains.

* The sharp cut in the PSU banking unsettled the traders while the private banking counters traded mixed.

* Indications are pointing toward relative underperformance to continue. A decisive close above the 42900 would change the tone.

* Focus should be on counters which are showing resilience amid consolidation.

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