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NIFTY

* Nifty remained range bound for the third successive session but managed to gain nearly half a percent.

* Majority of sectors were aligned to the benchmark wherein metal and pharma were among the top gainers.

* Markets will react to the outcome of the US Fed meet in early trades on Thursday and indications are in the favor of prevailing tone to continue.

* Traders should maintain their focus on stock selection and utilizing any dip to accumulate quality stocks.

BANKNIFTY

* Banking index traded in a narrow range for yet another session and ended almost unchanged.

* The private banking majors remained lackluster however, PSU banking counters witnessed some profit taking.

* The prevailing tone in the index is expected to continue with support at 50850 and resistance at 52000 level.

* One should wait for a meaningful move and maintain stock specific approach

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