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* Nifty traded volatile in the passing week and lost over two percent. Mixed global cues and overbought positions trigger profit taking across the board.
* In line with the benchmark index, mostly sectoral indices witnessed decline and ended lower. Conditions were sluggish on the broader front too. We feel, market participants should keep a close watch on the on-going earnings, movement of crude prices and currency for the next directional move.
* Considering the overall situation, we reiterate our cautious bias on Nifty and advise traders to stay light and hedge their leveraged positions.
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