Banking index traded in line with the benchmark index and gained over a percent - Religare Broking
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
NIFTY
* Nifty managed to gain nearly a percent on the monthly expiry day amid excessive volatility
* Most sectors participated in the recovery wherein metal, realty and auto gained the maximum.
* Need a decisive close above 17,200 for further recovery.
* Reiterate our view to limit leveraged positions and focus more on risk management.
BANK NIFTY
* Banking index traded in line with the benchmark index and gained over a percent.
* Recovery was broad-based wherein HDFC Bank, Kotak Bank, SBIN and Axis Bank contributed maximum.
* Reached closer to its resistance zone of long term moving averages i.e. 200 EMA and the breakout would further strengthen the recovery.
* We reiterate our preference for private banking. Axis Bank, Federal Bank and Kotak Bank look best for short term
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
Tag News
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
