Banking index pared its early gains in the second half and finally closed gaining over half a percent - Religare Broking Ltd
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NIFTY
* Nifty traded volatile and ended almost unchanged, taking a pause after the recent surge.
* Mixed trend continued on the sectoral front wherein realty and banking edged higher while energy and metal traded under pressure.
* The existence of a hurdle around the 23,100 zone in Nifty combined with a further uptick in the volatility index, India VIX, capped the upside.
* Participants should maintain their focus on stock selection and trade management.
BANK NIFTY
* Banking index pared its early gains in the second half and finally closed gaining over half a percent.
* Barring ICICI Bank all other banking stocks closed in green. HDFC Bank, Axis Bank and Indusind bank contributed the maximum.
* Going ahead banking index as an intermediate hurdle around 49600 and 50000 levels.
* Thus traders should align their trades accordingly and focus more on stock selection.
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