Nifty started the week on a firm note and gained over half a percent - Religare Broking
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Nifty
* Nifty started the week on a firm note and gained over half a percent.
* Mixed trend on the sectoral front kept the traders busy. IT, metal and pharma space witnessed a rebound while the banking and financials were on the back foot.
* Recent participation from IT majors is encouraging but sustainability would be the key.
* Maintain our positive view and suggest continuing with stock-specific approach
Banknifty
* Banking index traded volatile but finally settled almost unchanged.
* Profit taking in the private banking majors viz. HDFC Bank, Axis Bank and ICICI Bank weighing on the trend.
* Decisive close above 44,000 would fuel the fresh momentum else consolidation will continue.
* We feel it is a normal consolidation around the record high. Maintain a positive view.
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