Nifty started the week with an uptick and gained over half a percent - Religare Broking
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Nifty
* Nifty started the week with an uptick and gained over half a percent.
* Mixed trend on the sectoral front. IT majors showed strength while profit taking in energy, banking and cement trimmed gains.
* Maintain focus on stock selection until Nifty decisively closes above 18250.
* Expect volatility to remain high citing earnings and upcoming F&O expiry
Technical Chart : Intraday
BANKNIFTY
* Banking index also edged higher in line with the benchmark and gained over half a percent.
* It crossed the critical hurdle at 42900 in early trade but couldn’t sustain.
* Important to hold 42500 to maintain a positive tone.
* Seeing selective participation. Aubank and SBI look firm on chart.
Technical Chart : Intraday
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