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Nifty

* Nifty started the week with a cut over half a percent, in continuation prevailing corrective phase.

* Most sectors traded in sync wherein energy, auto and pharma were among the top losers.

* The move reaffirms our negative bias however buying in select heavyweights is capping the damage.

* Maintaining focus on stock selection while keeping a check on leveraged trades.

BANK NIFTY

* Banking index also opened lower and remained in a narrow band till the end.

* Mixed move was witnessed across sector. SBI and Axis Bank showed strength while ICICI Bank and HDFC Bank edged lower.

* Retested the lower band of the triangle pattern. Its break would fuel further decline.

* Suggest focusing on stocks that are showing resilience or plan pair trading opportunities.

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