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NIFTY

* Nifty resumed decline and shed nearly half a percent amid mixed cues.

* Mixed trend continued on the sectoral front wherein energy and realty edged higher while IT, pharma and FMCG witnessed profit taking.

* Prevailing pressure in banking majors is largely weighing on the sentiments however selective buying in others is capping the damage so far.

* Traders should stay focused on stock selection and trade management until we see some clarity.

BANKNIFTY

* Banking index recouped its early losses in the final hour and closed lower by half a percent.

* Mixed trend continued in the private banking names. Wherein ICICI bank and Indusind bank edged higher while HDFC bank and Axis bank saw profit taking.

* It rebounded higher from the long term moving average which coincides with 61.8% retracement line.

* Going ahead 45500 zone remains the critical support zone, failure to hold would further deteriorate the trend.

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