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NIFTY

* Nifty traded volatile and ended almost unchanged, taking a breather after Tuesday’s decline.

* Mixed trend continued wherein energy, FMCG and realty edged higher while metal and financials ended in the red.

* We may see a breather after the recent fall but the tone is likely to remain negative.

* Participants should continue with “sell on rise” approach until Nifty decisively reclaims 22,100 level.

BANKNIFTY

 * Banking index witnessed wild swings on both the directions and finally settled on the flat note. 

* Mixed trend was witnessed among the banking majors. Wherein SBIN and Kotak bank inched higher. Whereas HDFC Bank and Axis bank remained under pressure. 

* It made an attempt for breakdown below the support zone of 46000, but recovered sharply from the lows and closed above the same. 

* We advise to avoid aggressive longs and focus on the stocks which are showing higher relative strength like ICICIbank and Kotakbank.

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