Nifty remained volatile on the weekly expiry day and lost nearly half a percent - Religare Broking Ltd
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NIFTY
* Nifty remained volatile on the weekly expiry day and lost nearly half a percent.
* Majority of sectors traded in tandem wherein FMCG, pharma and banking were the top losers.
* Struggling to hold 20 EMA. Besides, trendline hurdle at 19650 adding to pressure.
* Recommend limiting positions and waiting for clarity over the next directional move.
BANK NIFTY
* Banking index underperformed the benchmark index for yet another session and closed near the days low.
* Barring Indusind Bank, all other banking majors ended in red wherein Kotak Bank, HDFC Bank and ICICI Bank were among the top losers.
* Closed around the crucial support zone i.e. 44,450. Maintain caution.
* Suggest limiting positions and wait for clarity over the next directional move.
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