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NIFTY

* NIFTY traded volatile and lost nearly half a percent amid mixed cues.

* The majority of sectors, barring FMCG, edged lower wherein pharma and IT were among the top losers.

* Nifty has been struggling to cross the hurdle at 24,500 level for the last three sessions.

* Meanwhile, traders should continue with a hedged approach and maintain focus on stock selection.

BANKNIFTY

* Absence of a subsequent move and dull opening sentiment, Banknifty experienced profit-taking from higher levels.

* On the contrary, Banknifty sustained above levels of the previous breakout, i.e., 100 EMA.

* Since there has been no subsequent follow-up on either side, consolidation is much anticipated.

* Traders maintain hedge positions and play the wider consolidation range between 53000 and 51000.

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SEBI Registration number is INZ000174330