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Nifty

* NIFTY continued its downward trend, slipping nearly half a percent.

* Sector-wise, metals, FMCG, and auto gained, while IT and energy sectors remained under pressure.

* Nifty has now fallen below 200 DEMA, which is its major support, indicating that the bears are in control.

* We recommend maintaining a cautious outlook on the index and focusing selectively on stock-specific opportunities.

Bank Nifty

* Banknifty traded in a range throughout the day, taking a pause slightly above 200EMA levels.

* Long leg doji candle is formed with indecisive moves on either side.

* 200 EMA will play the vital role, which is make or break level for index for further trend to resume.

* A fresh downside will be more likely if the index breaks below the 50000 mark,

* Traders are recommended to stay hedged and maintain position both sides and better play index with option strategies.

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