Nifty traded lackluster for yet another session - Religare Broking
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NIFTY
* Nifty traded lackluster for yet another session and lost over half a percent.
* Mixed trend on sectoral front kept the traders busy wherein buying in FMCG majors capped downside.
* Weak global cues are weighing on sentiment. Focus on trade management.
* We expect Nifty to hold 18300-18400 zone. Prefer sectors which are showing resilience.
BANKNIFTY
* BankNifty remained range bound and ended almost unchanged.
* It has been hovering within 42900- 43400 band.
* Need a decisive break above 43400 for resumption of trend.
* Meanwhile, we recommend staying selective and prefer private banks.
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