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NIFTY

* Nifty witnessed profit taking and shed nearly a percent, engulfing the gains of the last trading session.

* Majority of sectors closed lower in line with the move wherein metal, realty and energy were among the top losers.

* We may see further dip, with the next crucial support at the 24,150 level i.e. 20 DEMA.

* Traders should refrain from carrying aggressive positions for now and preferred hedged trades.

BANKNIFTY

* Banking index too traded lower but the pace of sell-off was comparatively lower than the benchmark index.

* All the banking majors ended in red wherein AXISBANK and INDUSINDBNK contributed the maximum.

* Going ahead, a dip below 52000 mark could intensify the fall towards 51700 and then 51150.

* Trades should maintain strict stop losses and avoid aggressive longs for now.

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