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NIFTY

* Nifty rebounded sharply after Monday’s slide and gained nearly a percent amid mixed cues.

* Majority of sectors participated in the move. Realty, metal and financials were among the top gainers.

* Finally crossed the immediate hurdle of short term moving average (20 EMA). Eyeing 19,800 now.

* Traders should avoid aggressive trades and prefer a hedged approach citing mixed cues .

BANK NIFTY

* Banknifty traded in sync with benchmark index and closed over a percent, engulfing its previous session loss.

* Baring Indusind Bank, all banking major ended in green. Wherein ICICI Bank, Kotakbank and HDFC Bank contributed the maximum.

* Managed to hold its support zone of 43800 and rebounded strongly.

* Going ahead, 44600 is key resistance zone which coincides with its short term average i.e. 20 EMA. 

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