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Nifty

* Nifty traded upbeat for the fourth successive session and gained over half a percent, in continuation of the prevailing uptrend.

* The majority of sectors were in sync with the move wherein IT and energy were among the gainers.

* Nifty has crossed the 24,000 mark, we see the potential to test 24,500 ahead, with support around 23,600 levels.

* Participants should align their positions accordingly and look for buying opportunities on dips.

BANKNIFTY

* Banking index took a breather after recent surge and closed marginally lower.

* Mixed trend was witnessed among the banking majors. Wherein Kotak Bank and ICICI Bank performed well. While HDFC Bank and SBI closed in red.

* Bullish tone likely to persist and any dips towards the support zone should be utilised as a buying opportunity.

* Focus on stock selection and prefer Private banking majors like Axis Bank, ICICI Bank and Kotak Bank over PSU Banking stocks.

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