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NIFTY

* Nifty traded dull and settled almost unchanged, in continuation to the prevailing consolidation phase.

* Mixed trend continued on the sectoral front wherein energy and auto performed well.

* Mixed trend in index majors is not offering any clear signal over the next directional move.

* Participants should prefer hedged positions, with the beginning of the earnings season and wait for clarity.

BANKNIFTY

* Banking index remained lackluster and volatile in narrow range to close marginally higher.

* Mixed trend was witnessed among the banking participants. Wherein Axisbank, Indusindbank took the lead and HDFCbank and ICICI bank remained subdued.

* It witnessed selling pressure around the anticipated resistance zone of 47600 zone.

* Failure to surpass above 47600 zone, would lead to continue its downward move towards support zone of 46900.

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