Banking index recovered after a gap down opening and fluctuated within a range to end the session on a flat note - Nirmal Bang Ltd
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NIFTY
* Nifty began the week on a subdued note and ended nearly unchanged, reflecting caution ahead of the Union Budget.
* Sector-wise, auto, metal, and pharma edged higher, while realty and IT were among the top losers.
* With all eyes on the Union Budget, volatility is expected to remain high.
* Traders should seek buying opportunities in low-beta counters, especially in the defensive sectors, and remain selective in other areas.
BANKNIFTY
* Banking index recovered after a gap down opening and fluctuated within a range to end the session on a flat note.
* KOTAKBANK and SBIN remained under pressure, whereas HDFCBANK restricted the fall.
* The index managed to close above its 20 EMA, while continuing its ongoing range bound movement.
* However, post the event, we may see some meaningful move in the index after spending decent time trading sideways.
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The index started the session with a negative gap 24530-24445 - ICICI Direct
