Banking index took a breather after two days of consecutive rise and closed lower by over half a percent - Religare Broking
NIFTY
* Nifty started the week on a muted note and ended marginally lower, taking a breather after the recent surge.
* Mixed trend across sectors kept the traders occupied wherein pharma and metal performed well.
* Maintain our bullish view and suggest focusing on buying opportunities amid consolidation.
* We feel stocks from FMCG, pharma and metal can do well so align trades accordingly.
BANK NIFTY
* Banking index took a breather after two days of consecutive rise and closed lower by over half a percent.
* Barring SBIN all other banking major closed in red. While ICICI bank, Axis bank and Indusind bank capped the upside.
* Expect consolidation to continue in banking index with positive bias.
* Maintain buy on dips approach and advice to accumulate private banks on decline.
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