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NIFTY 

* Nifty edged lower after two days of consolidation, slipping over a percent amid mixed global cues.

* Following a flat start, profit-taking in heavyweight stocks across sectors dragged the Nifty index down, which eventually settled at 24,683.90.

* All the key sectoral indices moved in tandem with the broader decline, with auto, pharma, and FMCG emerging as the top losers.

* In the meantime, we advise traders to avoid aggressive long positions and focus on sectors or themes that are showing relative strength.

BANK NIFTY

* The banking index faced rejection at higher level again, triggering selling pressure which led to a percent cut.

* The weakness was widespread wherein Federalbnk, Hdfcbank, Bankbaroda lost the most.

* The Banknifty has been consolidating sideways for nearly a month, struggling to breach the 55,700-56,100 resistance zone.

* Meanwhile, on the flip side, 54,400-54,200 range has provided strong support.

* Given the situation, it's advisable to wait for a decisive breakout or breakdown before planning the next directional trade.

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