Nifty oscillated on both sides and ended lower, in continuation to the prevailing tone - Religare Broking Ltd
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NIFTY
* Nifty oscillated on both sides and ended lower, in continuation to the prevailing tone.
* Majority of sectors felt the heat. IT, realty and pharma were among the top losers.
* Fresh weakness in the US markets is largely weighing on the sentiment however the pace of decline is still capped.
* Prudent to book some profits and maintain a few shorts also. Next crucial support at 19,100.
BANK NIFTY
* Banking index traded lackluster in narrow range and ended marginally lower, in sync with the benchmark index.
* Mixed trend was witnessed among the constituents. Axis Bank, BANKBARODA and SBIN settled higher while HDFC Bank, Kotak Bank and Indusind Bank remained subdued.
* Banking index trying to defend 43700 support zone, however, the breakdown from the same would accelerate the decline.
* Trade in sync with the trend while keeping a check on position size
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