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NIFTY

* NIFTY traded in a volatile manner and ended nearly flat, continuing the current corrective phase.

* Sectoral performance was mixed, with realty and pharma stocks rising, while FMCG and energy sectors saw declines.

* As expected, Nifty struggled to break through the resistance zone of 25,150-25,300,

* On a positive note, the strength in IT and pharma stocks is encouraging,

* Traders should remain cautious during this corrective phase and adopt a hedged strategy.

BANKNIFTY

* Banknifty traded volatile, barely retained any gains which were accumulated during initial session.

* Contributor-wise, Axisbank and SBIN being major positive contributors, while Hdfcbank ongoing loss is what driving the benchmark down.

* Banknifty forming gravestone doji with indecisive flat closing, but managed to close slightly above its 100 EMA & at 51000 mark.

* Traders are recommended to wait for clear picture, below 100EMA fresh liquidation shall be seen on the flip side if above 100 EMA, can witness some consolidation or slight follow-up.

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