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Nifty

* NIFTY experienced volatility and closed nearly flat amid mixed signals.

* Major Sectoral Outlook: IT the only positive gainer, while all others closed in red.

* Absence of follow-up buying; as a result, NIFTY may remain range-bound.

* In the meantime, traders should focus on selective stock selection and adopt a hedged approach

Bank Nifty

* Banknifty has formed an inside bar with shadows on either side denoting a lackluster move.

* Trading lower to rising channel, but the good part is sustaining above 100EMA levels.

*  Previously, after giving a breakout over 100EMA, mild reversal retracement was seen with extended consolidation.

* BANKNIFTY likely to trade in a range of 51000 -52500.

* Traders are recommended to stay light and maintain positions both sides, consolidation is most likely.

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SEBI Registration number is INZ000174330