Banking index traded in sync with the benchmark and settled with modest gains - Religare Broking
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Nifty
* Nifty traded dull in a narrow band and ended marginally in the green amid mixed cues.
* Financials and energy posted decent gains among the sectoral pack while metal, realty and FMCG witnessed profit taking.
* Seeing noticeable buoyancy on the broader front. Smallcap pack is catching up with the midcap.
* Recommend focusing on stock selection and trade management. Positive tone to continue.
Banknifty
* Banking index traded in sync with the benchmark and settled with modest gains.
* While mostly stocks ended lower, buoyancy in HDFC Bank, helped index to ended higher.
* Mixed trend within the sector is keeping the participants guessing over the next directional move.
* We reiterate our view to limit trades and prefer hedged positions until we see a decisive break.
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