Banking index traded in a narrow range and ended the session on a flat note - Religare Broking Ltd
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NIFTY
* NIFTY remained subdued for the third consecutive day, ending slightly in the green.
* Sector-wise, realty and auto saw gains, while metal and pharma ended in the red.
* We recommend continuing with a “buy on dips” strategy, targeting an upside of 25,550 in Nifty.
* Additionally, selective sectors like banking, financials, realty, and IT are presenting stock-specific buying opportunities so plan the trades accordingly.
BANK NIFTY
* Banking index traded in a narrow range and ended the session on a flat note.
* Mixed trend continued among the banking major wherein KOTAKBANK and ICICIBANK edged higher while SBIN and PNB ended lower.
* We remain bullish on the index, however, the outcome of US Fed meet will also have impact on the overall directional trend.
* Traders are advised to prefer hedged approach till the event unwinds.
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