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Nifty

* Nifty recovered after Wednesday’s fall and gained over half a percent. 

* All the key sectors, barring banking, participated in the move wherein energy, IT and metal were among the top gainers. 

* Participants shouldn’t read much into a single-day rebound, especially in the broader indices and wait for some stability.

* Focus on sectors and stocks that are showing relatively higher strength like IT and select banking and FMCG names for long trades.

Bank Nifty

* Banking index remained volatile throughout the day and finally closed around the opening range losing nearly half a percent.

* Barring Kotak bank all other private banking majors closed in red. Wherein Axis Bank and Indusind bank lost the most. 

* It has closed below its short term moving average i.e. 20 DEMA. 

* Trader should avoid aggressive longs and focus more on risk management.

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