Nifty started the week on a volatile note and settled with modest gains - Religare Broking Ltd
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NIFTY
* Nifty started the week on a volatile note and settled with modest gains.
* Mixed trend continued on the sectoral front. Realty and pharma posted decent gains while IT and FMCG closed in the red.
* It is a normal pause after the recent fall. Continue with negative bias in the index.
* Meanwhile, stocks are offering opportunities on both sides. Stay focused on stock selection.
BANK NIFTY
* Banking index outperformed the benchmark index and gained over half a percent.
* Most of the banking majors ended in green. HDFC Bank, Axis Bank, SBIN and Indusind Bank contributed the maximum.
* Closed around its short term average .i.e. 20 DEMA. Sustainability above 44550 would extend the up move towards 45100.
* We suggest staying selective, as within the pack the trend is still subdued.
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