IGI Logo

NIFTY

* Nifty traded dull in a narrow range and ended marginally higher.

* Mixed trend was witnessed on the sectoral front wherein IT and pharma ended with losses while banking, auto, media, metal and FMCG closed in the green.

* The last two days of pause in the index indicate a breather after the breakdown but the overall tone is still bearish.

* Expect volatility to remain high due to Union Budget. Limit positions.

Technical Chart : Intraday

BANKNIFTY

* Banking index traded with a positive bias for most of the session and finally settled with a gain of over half a percent.

* The PSU outshined the private counterparts. Consequently, the PSU banking index gained nearly 5%.

* Upside seems capped citing multiple hurdles around the 41200-41600 zone.

* Federal Bank, IDFC First Bank and Indian Bank are showing higher relative strength.

Technical Chart : Intraday

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.religareonline.com/disclaimer

SEBI Registration number is INZ000174330

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer