Banking index also drifted lower in line with benchmark index and finally settled lower - Religare Broking
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Nifty
* Nifty witnessed profit taking on Friday and shed nearly a percent, tracking feeble global cues.
* Most sectors ended in the red wherein FMCG, realty and energy were among the top losers.
* Indications are in the favor of consolidation ahead. Volatility is likely to remain high.
* Keeping a check on position sizing and maintaining strict risk management rules in place.
Banknifty
* Banking index also drifted lower in line with benchmark index and finally settled lower.
* It slipped below 45,000 mark and ended around the day’s low at 44,925 levels.
* Among the private banking majors, ICICI Bank, HDFC Bank and Kotak Bank shed maximum.
* May see further fall ahead however strong support at 44,500. Accumulate on dips.
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