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Markets continued to remain choppy. Post 11% decline from the recent high, on Monday, Niftydefended levels of 16,200 on closing, however, in today’s trade recoveries remained short-lived as the index failed to build on gains near 16,400.

“Mild consolidation is possible above 16,100 to digest recent decline,” said Amit Trivedi, CMT, Technical Analyst – Institutional Equities, YES Securities.

“Defending levels of 34,000, Bank Nifty outperformed settling near 34,500. Stability at current levels is likely to attract stock-specific recovery within banking space.”

Below are key recommendations for Wednesday:

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