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NIFTY

* Nifty oscillated sharply on both sides and finally settled marginally lower.

* Mixed trends on the sectoral front kept the participants busy wherein auto and realty posted decent gains while pressure continued in banking and IT.

* Banking pack is currently weighing on the sentiment. And, it is difficult to make any directional move without their participation.

* We thus reiterate our view to stay focused on stock selection and risk management.

BANKNIFTY

* Banking index opened gap down on the back of gloabal cues and settled lower with a cut over half a percent.

* Barring Indusind bank, all other private banking majors closed negative. Wherein, HDFC Bank, Axis Bank and ICICI Bank remained under pressure.

* It reversed finding resistance around its short term moving average ribbon which coincides around 44700 zone.

* Restrict aggressive positions and focus more on risk management.

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