IGI Logo

NIFTY

* Markets made a strong comeback on Friday and gained nearly one and a half percent, buoyed by upbeat global cues

* The participation was broad-based on the sectoral front too wherein IT, realty and auto were among the top gainers.

* Nifty has finally ended consolidation and looks set to fill the gap around 24,700 next. In case of any dip, 24,300-24,400 zone would offer the cushion.

* We suggest aligning trades accordingly, with attention on stock selection.

BANKNIFTY

* Banking index staged a strong recovery and gained over one and a half percent.

* Almost all banking majors contributed to the move and closed on the positive note wherein ICICIBANK, KOTAKBANK and INDUSINDBK contributed the maximum.

* The index has rebounded from 50 percent retracement support of its previous rally and a decisive close above 58800-58900 levels would pave the way for further recovery.

* Meanwhile, traders should continue with stock-specific approach and wait for clarity

Please refer disclaimer at https://www.religareonline.com/disclaimer

SEBI Registration number is INZ000174330