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Nifty

* NIFTY traded under pressure, losing over a percent

* All major sectors aligned with the benchmark, with metals, pharma, and energy stocks leading the decline.

* Nifty was unable to breach the 24,500, suggesting that consolidation may continue, with key support at 24,000.

* Traders are advised to maintain a stock-specific approach and consider hedged positions.

Bank Nifty

* Banknifty failed to sustain the key levels again and closed with a loss of 0.77%.

* Breaking down crucial levels, but the good part is managed to sustain the 100EMA levels.

* Previously, after giving a breakout over 100EMA and rising channel, index failed to retain its rising channel.

* Banknifty has formed a small bearish reversal and still expects support above the 51700 mark.

* Traders are recommended to manage the volatility with an option strategy; otherwise, stay cautious at 51700 for bias to flip.

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SEBI Registration number is INZ000174330