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2025-03-17 10:23:54 am | Source: Religare Broking
Banking index pared the early gains and ended on a flat note - Religare Broking Ltd
Banking index pared the early gains and ended on a flat note - Religare Broking Ltd

NIFTY

* On the weekly expiry day, Nifty remained range-bound and closed slightly lower.

* Barring the banking sector, all major indices ended lower, with realty, auto, and metal stocks leading the decline.

* The ongoing consolidation in the Nifty index has kept participants cautious, but a decisive breakout from the 22,250-22,650 range is expected soon.

* We continue to advice against adding to loss-making positions, particularly in the midcap and smallcap segments.

 

BANK NIFTY

* Banking index pared the early gains and ended on a flat note.

* Among the banking majors, PSU counters like Bankbaroda, SBIN closed in green while Indusindbk, Federalbnk edged lower.

* The index is trading in a lower top-lower bottom formation below its short-term moving average, with upside attempts meeting selling pressure.

* However, as long as index manages to defend its key support zone at 47700-47500, expect sideways tone to continue.

 

 

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