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NIFTY

* Nifty traded lackluster and ended almost unchanged, taking a breather after Friday’s surge.

* Mixed trend across sectors kept traders engaged, with realty and auto among the top gainers.

* Mixed global cues and the underperformance of major banks are causing an intermediate pause in the index; however, the overall tone remains positive.

* We reiterate our recommendation to maintain a “buy on dips” approach.

BANKNIFTY.

* After an upbeat start, the Banking index trimmed its gains and ended almost flat.

* Private banking giants struggled to maintain momentum, while on the contrary, PSU banking stocks rallied sharply.

* Considering today’s price action, , it may not be a smooth ride for index to reclaim new highs given the multiple hurdles to cross.

* Hence, it would be prudent to maintain buy on dips approach till the index holds 50400 mark.

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