The banking index also traded volatile and settled marginally lower - Religare Broking Ltd
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NIFTY
* Nifty started the week on a feeble note and lost nearly half a percent, tracking weak global cues.
* Mixed trend across the key sectors kept the traders occupied. Energy and metal closed higher while IT, FMCG and pharma were among the top losers.
* We are largely mirroring the US markets on the benchmark front however there is no shortage of stock-specific trading opportunities.
* Reiterate our view to focus more on stock selection and prefer long trades until the Nifty breaks 19,200.
BANKNIFTY
* The banking index also traded volatile and settled marginally lower
* Private banking majors remained on the back foot however noticeable buying in PSU pack added to some positivity.
* Needed participation from private banking majors to decisive cross the hurdle at 44,100.
* Meanwhile, stay stock-specific but avoid aggressive longs.
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