Banking also traded volatile and ended on a flat note - Religare Broking Ltd
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Nifty
* Nifty traded volatile on the weekly expiry day but managed to end marginally higher.
* Mixed trend was witnessed on the sectoral front. IT and realty posted strong gains while energy and auto were among the top losers.
* Failed attempt to break out from the 19300-19550 zone indicates further consolidation ahead.
* Maintain caution in stock selection and focus on risk management.
Banknifty
* Banking also traded volatile and ended on a flat note, in line with the benchmark index.
* Positive tone in major private banks capped decline. ICICI Bank, Axis Bank and HDFC Bank were among the top contributors.
* Hovering around the critical support zone of short term moving average i.e. 20 EMA. Consolidation to continue.
* Reiterate our preference for private banking counters and suggest utilising the phase to accumulate.
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