Going ahead, global cues and earnings will keep the volatility high - Religare Broking
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NIFTY
* Nifty traded volatile and ended marginally lower on the weekly expiry day.
* Majority of sectoral indices traded in tandem with the benchmark wherein the pressure in the energy and banking majors was weighing on the sentiment.
* We believe the prevailing tussle around 17,800 in Nifty will end soon. Meanwhile, stay stock-specific.
* Going ahead, global cues and earnings will keep the volatility high.
BANKNIFTY
* Banking index traded in line with Nifty and ended slightly in the end.
* Trying to defend 41700 but the upside seems capped. Hurdle intact at 42700-42900 zone.
* The prevailing resilience in the PSU pack is certainly encouraging while private banking majors are facing the heat.
* We suggest limiting positions and preferring a hedged approach, especially for overnight trades.
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