Extending its gain for second straight day, banking index managed to end higher by 150 points - Religare Broking Ltd
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Nifty
* Nifty edged higher and gained over half a percent, in continuation to Tuesday’s rebound.
* Among the key sectoral indices, auto, FMCG and energy posted decent gains while profit taking in the IT pack capped the upside.
* Recent stability on the global front has prompted this rebound and indications are in the favor of prevailing tone to continue.
* Look for buying opportunities on dips but maintain focus on risk management.
Bank Nifty
* Extending its gain for second straight day, banking index managed to end higher by 150 points..
* Most constituents ended in green. Wherein HDFC Bank, Kotak Bank and Axis Bank contributed the maximum. While Bankbaroda and SBIN capped the upside.
* Going ahead, sustainability above 44800 is essential for further upmove towards 45200. zone.
* Trade in sync with the trend while keeping a check on position size .
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