Nifty gained over half a percent - Religare Broking
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NIFTY
* Nifty gained over half a percent and settled around the day’s high.
* Continued buying in banking combined with a recovery in IT played a key role.
* Expect the recovery to continue. Focus on stock selection.
* Besides, keep a close watch on global markets for cues.
* Performance of US markets will be critical for sustained recovery
BANKNIFTY
* Banking extended the prevailing up move and gained nearly half a percent.
* Buying was broad-based with noticeable momentum in the PSU pack.
* It might take a breather around 44,250.
* Continue with “buy on dips” and keep trailing stop losses on the rise.
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