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Nifty

* NIFTY experienced a slight recovery after the recent decline, gaining over half a percent.

* Most sectors contributed to the up move, with realty, banking, and FMCG emerging as the top gainers.

* We reiterate our preference for the pharma and healthcare sectors for long positions.

* Participants are advised to maintain a cautious stance with a negative bias on the index until clear signs of a rebound emerge.

Bank Nifty

* Bank Nifty opened with an upside gap from the oversold zones.

* Post loosing nearly 2600 points in 4 sessions, an inside bar is made, giving a pause to follow-on selling.

* Bank Nifty has breached important support zones that are 51600-51800, i.e., 100 DEMA.

* Watch out for 50400 i.e., 200 DEMA, which will be a decisive make-or-break level.

* Traders stay cautious over sharp moves in the index and continue with selling on a bounce below 51800.

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