The banking index finally witnessed a breakout from a consolidation range of 42900-43400 - Religare Broking
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NIFTY
* Nifty remained range bound and ended marginally higher.
* Most sectors traded in line with the index. Banking, especially PSUs, attracted noticeable traction.
* Stay stock-specific and look for buying opportunities.
* Expect consolidation to continue but rebound possible.
BANKNIFTY
* The banking index finally witnessed a breakout from a consolidation range of 42900-43400.
* Noticeable buying in the PSU pack while private banks participated selectively.
* Eyeing 44,200 levels now. Continue with “buy on dips”.
* Keeping trailing stop losses in the PSU pack and selectively accumulate private banks.
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