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NIFTY

* It turned out to be a muted session for the index as Nifty remained in a narrow range and ended almost unchanged.

* Mixed trend on the sectoral front kept the traders occupied wherein FMCG and energy edged higher while metal, realty and pharma closed in the red.

* We expect a time-wise correction in the Nifty index citing rotational buying in heavyweights, which is capping the damage so far.

* Traders should maintain extra caution now in stock selection and focus more on trade management.

BANKNIFTY

* Banking index traded lackluster in the narrow range and finally closed lower by nearly half percent.

* Among the banking stocks, ICICI Bank and Indusind bank closed in green. While HDFC Bank and Bank Baroda closed lower.

* Banking index hovering around the intermediate support of its short term moving average .i.e. 10 DEMA.

* Going ahead, failure to hold 52250 zone, would attract further profit taking. Thus traders should align their trades accordingly.

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