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Nifty

* Nifty continue to edge higher for the fourth successive session and gained nearly a percent

* Most sectors were aligned with the trend wherein FMCG, IT and financials were the top gainers

* Some consolidation likely as we’ve reached closer to immediate target of 17600

* Reiterate our bullish view and suggest using dips to add quality stocks

Banknifty

* The banking index also traded with positive bias and gained nearly half a percent

* HDFC Bank single-handedly helped the index to maintain positive tone while others were traded subdued.

* After HDFC Bank, ICICI Bank and Axis Bank have potential to push the index higher.

* Expect volatility to remain high due to scheduled MPC meet. 41200-41400 resistance zone.

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