IGI Logo

Nifty

* Nifty edged higher in continuation to the prevailing trend and gained over half a percent.

* Most of the sectoral indices traded in line with the benchmark wherein energy, FMCG and metal were among the top gainers.

* The existence of a hurdle at the 19,350 level combined with overbought reading may prompt traders to book some profit.

* Any intermediate dip should be considered as a buying opportunity so traders should keep their list of preferred stocks ready.

Banknifty

* Bank Nifty outperformed the benchmark index and gained nearly a percent.

* All constituents, barring Kotak Bank and Axis Bank, ended in the green. HDFC Bank, ICICI Bank and Indusind Bank were the top gainers.

* Ended six weeks long consolidation phase. Potential to test 45500+ zone.

* Reiterate our preference for private banks and suggest staying 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