Nifty Eyeing 18250-18350 zone now - Religare Broking
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Nifty
* Nifty extended rebound and gained over half a percent amid mixed cues.
* Continued buying in select index majors from banking, IT and capital goods space pushed the index higher.
* Nifty finally breached its critical resistance zone of 18,100 levels. Eyeing 18250-18350 zone now.
* Prefer index majors over others while keeping a check on leveraged trades.
Bank Nifty
* Banking index also witnessed recovery and gained nearly half a percent.
* Private Banks outshined the PSU pack for the second consecutive day.
* Within the private banking space, HDFC bank looks strongest while Axis bank and ICICI Bank seeing rebound.
* Amid all, the hurdle is intact at 42650-42900 zone so plan your positions accordingly
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