IGI Logo

NIFTY

* Nifty traded volatile on the monthly expiry day and lost nearly half a percent.

* Mixed moves continued on the sectoral front. Realty and IT edged higher while energy and FMCG witnessed pressure.

* Seeing a gradual fall in the index however buoyancy on the broader front combined with selective buying across sectors is compensating in the interim.

* Continue with the stock-specific approach until we see a decisive sign of reversal in the index

BANK NIFTY

* Banking index extended its decline for second consecutive session and shed nearly half a percent.

* Barring ICICI Bank, all other private banking major closed in red. Wherein Axis Bank, Kotak Bank, Indusind Bank and HDFC Bank contributed the most.

* Closed around its medium term average .i.e 100 DEMA. Sustenance below 43700 would attract further selling pressure towards 43350.

* We suggest staying selective, as within the pack the trend is still subdued.

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