Banking traded in sync with the Nifty and finally settled marginally higher - Religare Broking
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Nifty
* Nifty settled higher in a volatile trading session, in continuation to the prevailing trend.
* Among the sectoral pack, financials, IT and auto posted decent gains while defensive viz. pharma and FMCG traded subdued.
* Respected trend line support around 18,660 levels. Expect positive tone to continue.
* Align positions accordingly but keep a check on positions size citing volatility.
Banknifty
* Banking traded in sync with the Nifty and finally settled marginally higher.
* Breached the support at 43400 for brief but rebound sharply thereafter.
* Recovery in Axis Bank, ICICI Bank, HDFC Bank and Kotak Bank played a key role in rebound.
* Limit leveraged positions and wait for clarity over next directional move.
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