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Nifty

* Nifty made a firm start and gained over a percent, tracking upbeat global cues.

* All sectors participated in the move wherein realty, IT and auto were among the top performers.

* Nifty has decisively crossed the trend line hurdle and looks set to test 19850 now.

* We reiterate our view to maintain a “buy on dips” approach and focus on stock selection.

Banknifty

* Banking index opened higher but failed to capitalize its gains and settled gaining over half a percent.

* Barring Indusind bank, all other private banking major closed in green. Wherein HDFC Bank, ICICI Bank contributed the maximum.

* It has surpassed the crucial resistance of 44000 zone, sustainability above the same would propel further upmove towards 44600.

* Traders should continue with the stock-specific approach, with bias on the positive side.

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