IGI Logo

NIFTY

* Nifty edged higher in a volatile session, in continuation to the prevailing consolidation tone.

* Most sectors contributed to the move. Auto, FMCG and pharma were among the top gainers.

* Expect consolidation to continue but the tone is likely to remain positive, thanks to rotational buying across sectors.

* Reiterate our view to focus on stock selection and utilizing this phase to gradually accumulate them on dips.

BANKNIFTY

* Banking index underperformed the benchmark index for the third consecutive session and ended marginally lower.

* Mixed trend was witnessed among the constituents. HDFC Bank and Axis Bank were top losers while Kotak Bank, Indusind Bank and IDFC First Bank capped the downside.

* Inching gradually towards the crucial support of 44,450. Limit leveraged positions.

* Utilise this phase to gradually accumulate private banking majors and stay selective in 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