IGI Logo

NIFTY

* Nifty showed resilience on the final trading day of the week and gained over a percent.

* Mixed trends continued on the sectoral front. Financial services, banking index and auto ended higher while metal and pharma ended lower.

* Nifty has strong hurdle at 17900 levels so maintain caution. And, stay stock-specific.

* Prefer IT, FMCG and select auto and banking counters for long trades and energy and pharma for short positions.

BANKNIFTY

* Banking index outperformed the benchmark index and settled with a gain of over 2 percent.

* Recovery was broad-based. Index surpassed the moving average hurdle of 100 EMA at 41320 as well.

* May see further rebound but upside capped as 41700-41900 crucial hurdle.

* Prefer stocks that are showing relative outperformance like HDFC Bank, AXIS Bank, ICICI Bank and Federal Bank.

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