Banking index also witnessed sharp swing and finally settled with a cut of over half a percent - Religare Broking
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Nifty
* Nifty traded volatile on the weekly expiry day and shed nearly half a percent.
* Most sectors traded in sync and ended lower wherein realty, IT and FMCG were the top losers.
* Seeing profit taking at higher levels. Maintain positive tone with focus on trade management.
* Support zone is now shifted to 18,400 levels which coincides with short term moving average i.e. 20 EMA.
Banknifty
* Banking index also witnessed sharp swing and finally settled with a cut of over half a percent.
* Majority stocks ended in the red wherein Kotak Bank, ICICI Bank and Axis Bank put maximum pressure.
* A close below 43,800 might trigger further fall else consolidation will continue.
* Suggest limiting positions and keep the overnight positions hedged.
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