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NIFTY

*  Nifty started the week on a subdued note and ended almost unchanged amid mixed cues.

*  Mixed trend on the sectoral front kept the traders occupied wherein realty and IT posted decent gains while energy and metal closed lower.

*  The sharp surge in the volatility index, India VIX, has started weighing on the sentiment and that may continue to put pressure on the Nifty on the rise.

* Decisive break of 22,400 in Nifty may push the bulls on the back foot. Thus , traders should continue with a hedged approach.

BANK NIFTY

*  Banking index remained volatile throughout the day and finally settled marginally lower.

*  PSU banking stocks witnessed profit taking whereas private banking majors capped the downside

*  Going ahead, banking index has an intermediate support zone around 48650, failure to hold this support would further dent the sentiment.

*  Thus traders should focus on stock selection and Risk management.

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