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NIFTY

* NIFTY remained subdued on the weekly expiry day, closing flat after a brief initial rise.

* Sector-wise, banking, metal, and energy sectors posted decent gains, while Pharma and IT saw sharp declines.

* The outlook points to consolidation with a negative bias unless Nifty decisively surpasses the 25,300 mark.

* On the downside, a drop below the recent low of 24,700 could lead to fresh declines.

* Traders should remain cautious and maintain a balanced approach with positions on both sides.

BANKNIFTY

* Banknifty outperformed other benchmarks the day to close with hefty accumulation at 100EMA, witnessing over 1% gains.

* Almost all amongst private bank space showed positive contribution with Kotakbank and Hdfcbank adding to the most gains.

* Anticipated bounce over and above 100EMA, index making similar to three upside bar & almost filled previous big bearish candle.

* Traders are recommended to keep an eye on 51500-51600 as this could be a make or break level. Follow-on upside could lead to 51800 then 52100.

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