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NIFTY

* Nifty edged higher for the third successive session and posted modest gains.

* Majority of sectors were aligned on the positive side wherein realty, FMCG and auto were among the top gainers.

* We may see a pause in the index after the recent surge but the tone is likely to remain positive citing a sharp dip in the volatility index i.e. India VIX.

* Traders should continue with stock-specific approach and utilize correction to accumulate quality names.

BANK NIFTY

* Banking index opened marginally higher and remained lackluster in a narrow range to finally settled almost unchanged.

* Mixed trend was witnessed among the banking majors. Wherein SBIN and ICICI Bank capped the downside. While HDFC Bank and Indusinbk remained subdued.

* It is facing resistance around 61.8% retracement levels of its prior decline.

* Thus going ahead, sustenance above 48200 would trigger fresh upward momentum

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