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NIFTY

* Nifty started the week on a muted note and ended marginally lower amid mixed cues.

* Mixed trend on the sectoral front kept the traders busy wherein metal and auto edged higher while pharma and realty witnessed profit taking.

* Muted action may continue in the index until we see alignment between the Nifty and the banking index.

* No shortage of trading opportunities across sectors so participants should plan their positions accordingly.

BANK NIFTY

* Banking index remained volatile throughout the day and closed around opening range with small loss.

* Mixed trend was witnessed among banking constituents. Axis Bank and ICICI Banks closed on positive note, wherein HDFC Bank and Kotak bank capped the upside.

* 44550 zone remains the key hurdle to cross, which coincides with its short term moving averages.

* We suggest staying selective, as within the pack the trend is still subdued.

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