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NIFTY

* NIFTY experienced volatility and ended nearly flat, primarily in response to mixed earnings reports.

* After an initial uptick, Nifty saw a sharp decline and fluctuated within a narrow range.

* Most sectors faced pressure, with metal, IT, and FMCG stocks leading the losses.

* We may see consolidation in the current scenario in Nifty; however, the overall tone is expected to remain negative.

* Traders should maintain a stock-specific strategy, focusing on risk management.

BANKNIFTY

* Banknifty opened with an upside gap in continuation to its previous breakout.

* Witnessed selling pressure at higher levels, forcing the index to close below its previous range trend line.

* HDFCBANK was the sole positive contributor, while all others closed in red.

* Further follow-on and momentum is missing, but the tone is still positive above 51750 and 50EMA.

* Traders are recommended to maintain positions on both sides and can play with strategy for an ongoing, wider range of consolidation.

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