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NIFTY

* Nifty continued to edge higher and gained nearly half a percent on the monthly expiry day.

* Most of the sectors participated in the move wherein energy, FMCG and pharma were among the top performers.

* The rotational buying in heavyweights across sectors is helping the index to inch higher

* We thus reiterate our bullish view and suggest continuing with a “buy on dips” approach.

BANK NIFTY

* Banking index opened with gap up but remained lackluster in narrow range closing higher by half a percent.

* All most all the banking stocks closed in green. Wherein Kotak bank, ICICI bank remained top gainers.

* It has witnessed a breakout from brief consolidation suggests upward momentum to continue.

* Going ahead we are eyeing 48800-49000 zone in the banking index in near term.

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