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Nifty

* Nifty remained in a range for yet another day and ended marginally higher, in continuation of the prevailing tone.

* Mixed trend continued on the sectoral front wherein realty and IT were among the top gainers while FMCG and energy traded subdued.

* We are currently seeing a time-wise correction in the Nifty index and indications are in the favor of prevailing tone to continue.

* Focus on themes like agri. related, sugar, chemicals and select defense counters for long trades.

Bank Nifty

* Banking index traded lackluster for yet another day and closed the session almost unchanged.

* Mixed trend continued among the banking participants. Wherein HDFC Bank and Indusind bank capped the downside. While ICICI Bank and Axis Bank closed in red.

* Banking index finding resistance around 78.6% retracement levels of its previous fall from last four sessions.

* Thus traders should position trades accordingly and focus on stock selection.

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