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Nifty

* NIFTY experienced a volatile session and ended marginally higher.

* Sectoral trends: realty, auto, and pharma leading the gainers, while metal and energy ended in the red.

* Nifty's movement reflects that bears are firmly in control, using every rebound as an opportunity to short.

* We maintain our “sell on rise” stance for the index until a decisive reversal is evident. while emphasizing a selective approach for stock-specific trades.

Bank Nifty

* Index witnessed bull run-up in the first half, followed by profit-taking from higher levels during the final hour.

* Banknifty has formed a shooting star candle, which might act as resistance for further follow-on upside.

* Banking majors: HDFCBANK played a major role in contributing to bullishness.

* Expect profit taking at higher levels is more evident; traders are recommended to play “sell on bounce” below the 51000 mark.

* In the mean while stay hedged and manage risk according.

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