IGI Logo

Nifty

* Nifty remained range bound but finally ended around the day’s high, in continuation of the prevailing uptrend.

* Mixed trend on the sectoral front kept the traders busy. Energy, pharma and banking posted modest gains while auto and IT traded subdued.

* Expect a positive move to continue but the momentum could be capped.

* Focus more on stock selection and utilize intermediate dip or a pause to accumulate.

Bank Nifty

* Banking index traded lackluster in a narrow range but managed to settle with the gain of over half a percent.

* HDFC Bank, SBIN and Kotak Bank aided stability while ICICI Bank and Axis Bank witnessed some profit taking.

* Chart pattern indicates more steam left. Maintain “buy on dips” approach.

* Apart from the private banking majors, SBIN, Canbk and PNB look upbeat from the PSU pack.

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