Banking index also witnessed a rebound and gained over half a percent - Religare Broking Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
NIFTY
* Nifty staged a recovery on the weekly expiry day and gained over half a percent.
* Mixed trend on the sectoral front kept the traders busy. Auto and IT posted a decent bounce.
* Wait for Nifty to reclaim the short term moving average (20 EMA) for sustained recovery.
* Meanwhile, prudent to keep a check on leveraged positions and prefer index majors over others.
BANKNIFTY
* Banking index also witnessed a rebound and gained over half a percent.
* Bounce in the private banking majors mainly ICICI Bank and HDFC Bank largely contributed to the move.
* 44,450-44,700 zone strong hurdle to cross. A decline below 43,850 would fuel a fresh fall.
* Keeping the mind the volatility, we
recommend limiting aggressive trades.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
Tag News
Weekly option data indicates an immediate band of 24500-24200 itself - Tradebulls Securities
