Rebound expected but upside capped, Limit positions - Religare Broking
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Nifty
* Nifty traded volatile in a narrow band and ended almost unchanged.
* Most sectoral indices traded under pressure wherein IT, realty and select banking counters were among the top losers.
* Expect choppiness to remain high. Critical to hold 17700 in Nifty to extend recovery.
* Meanwhile, restrict positions and wait for clarity
Bank Nifty
* Banking index traded lackluster and ended almost on a flat note.
* Mixed trend among the private banks capped the damage while PSU banks remained under pressure.
* Rebound likely but upside seems capped. 41100-41300 strong hurdle.
* Prefer PSUs like SBIN, Bankbaroda and Canbk for short positions.
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