Banking index extended its outperformance and ended with gains of over a percent - Religare Broking
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Nifty
Nifty started March month on a positive note and gained nearly a percent.
Recovery in the IT and metal pack combined with continued resilience in banking played a crucial role.
Expect recovery to extend. Immediate hurdle is at the 17600 mark i.e. 200 EMA.
In absence of any major domestic event, the performance of the global market will largely dictate the trend.
Bank Nifty
Banking index extended its outperformance and ended with gains of over a percent.
The recovery was widespread wherein SBIN, Axis Bank and Kotak Bank were the top contributors.
Indications are favorable for further rebound. Expect 41,000-41,250 zone to be tested shortly.
Prefer stocks that are showing relative outperformance but avoid going overbroad.
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