10-07-2024 09:13 AM | Source: Religare Broking
Banking index continued to remain lack luster for yet another day and closed the session slightly higher - Religare Broking Ltd

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

NIFTY

* Nifty edged higher and gained nearly half a percent, in continuation of the prevailing uptrend.

* Mixed trend on the sectoral front kept the traders occupied wherein Auto, Pharma and FMCG posted strong gains. While IT and energy ended subdued.

* Nifty is inching closer to the hurdle i.e 24500 levels and we need participation form the banking index to overcome the mark.

* Traders should continue with "Buy on Dips" approach and focus on sectors/ themes which are align with market trend.

 

 

BANKNIFTY

* Banking index continued to remain lack luster for yet another day and closed the session slightly higher.

* Among the banking majors ICICI Bank, SBI and HDFC Bank closed in green. While Kotak Bank and Indusind bank capped the upside.

* Banking index hovering around its short term moving average from last three sessions.

* The consolidation likely to extent further as we are seeing mixed trend among the banking majors.

 

 

Please refer disclaimer at https://www.religareonline.com/disclaimer

SEBI Registration number is INZ000174330

To Read Complete Report & Disclaimer     Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer