Banking index remained volatile and lackluster throughout the day to finally settled almost unchanged - Religare Broking Ltd
Nifty
* Nifty traded within a narrow range and ended nearly unchanged, pausing after Wednesday's gains.
* Mixed trend with pharmaceuticals, IT, and automotive sectors seeing moderate gains, while FMCG and metals remained subdued.
* It would be prudent to take some profits and wait for a potential dip before considering new long positions in the index.
* Traders should focus more on stock selection and utilize dip/consolidation to add quality names.
BANKNIFTY
* Banking index remained volatile and lackluster throughout the day to finally settled almost unchanged.
* Mixed trend was witnessed among the banking majors. Wherein ICICI Bank and Kotak Bank performed well. While HDFC Bank and Indusin Bank capped the upside.
* Banking index lacking momentum, as we are seeing mixed trend among the banking majors.
* Thus traders should focus more on stock selection and risk management.
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