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NIFTY

* Nifty witnessed volatility on the weekly expiry day but managed to close in the green.

* On one hand, realty and pharma posted decent gains, while auto and banking ended on a subdued note.

* On the index front, the Nifty has reclaimed its short-term moving average (20-DEMA), and its ability to sustain above this level will be critical for any further rebound.

* We continue to recommend a focus on theme-specific opportunities while maintaining prudent position sizing due to the mixed market signals.

BANK NIFTY

* The banking index showed choppy movement and ended flat, continuing its consolidation phase.

* Banking majors like ICICI Bank, HDFC Bank, and SBI closed higher, while others ended in the red.

* Market is waiting for cues from next monetary policy announcement on Friday.

* Strong resistance can be placed at 56,200, while strong support exists in the 55,200-55,000 range.

* Traders should remain cautious and avoid directional bets until a clear trend forms.

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