Banking index remained lackluster and volatile throughout the day to close marginally higher - Religare Broking
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NIFTY
* Nifty made a subdued start to the week and ended almost unchanged.
* Mixed trend on the sectoral front kept the traders busy wherein metal, realty and PSU banking were in the limelight
* Seeing consolidation in Nifty with a positive bias with an immediate support base around the 20,700-20,800 zone.
* Traders should continue with a “buy on dips” approach and stay focused on stock selection.
BANK NIFTY
* Banking index remained lackluster and volatile throughout the day to close marginally higher.
* Mixed trend among the banking participants. Wherein ICICI bank, Indusind Bank and Kotak bank closed higher. Whereas Axis bank and HDFC bank remained subdued.
* After vertical surge, banking index is trading range bound from past five sessions.
* Maintain buy on dips approach and advice to accumulate private banks on dips.
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