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NIFTY

* Nifty showed tremendous resilience amid weak global cues and gained nearly half a percent.

* The mixed trend continued on the sectoral front wherein energy, metal and auto were among the top performers

* The tussle shows consolidation amid mixed cues and we feel it might continue in the near future.

* Traders should stay focused on stock selection and refrain from aggressive bets.

BANK NIFTY

* Banking index outperformed the index and closed higher nearly a percent.

* Baring HDFC Bank, all other banking majors closed in green. Whereas SBIN, Axis bank and Indusind bank remained top gainers.

* It has recovered from the long term average. However, sustenance above 46200 is crucial to continue the upward momentum.

* Trader should follow stock specific approach and focus more on risk management.

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