IGI Logo

NIFTY

* Nifty edged marginally lower in a dull session, taking a breather after the recent rebound.

* Most sectors traded in sync with the move wherein auto, pharma and banking were the top losers.

* Reiterate our negative view on the index however a mixed trend on the sectoral front is offering opportunities on both sides.

* Align trades accordingly, with a focus on overnight risk management

BANKNIFTY

* Banking index opened gap up but failed to capitalize its gains and closed near days low losing near half a percent.

* Baring Kotak bank and SBIN all other banking major closed in red. Wherein ICICI bank, HDFC bank and Axisbank were among top losers.

* It failed to hold above the key hurdle of 43400 zone which coincides with 200 DEMA.

* Suggest continue with "Sell on rise" approach and avoid aggressive positions.

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

SEBI Registration number is INZ000174330