Markets edged higher and gained nearly half a percent, in continuation to the prevailing trend - Religare Broking Ltd
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NIFTY
* Markets edged higher and gained nearly half a percent, in continuation to the prevailing trend.
* Majority of sectors participated in the move wherein realty and pharma were among the top gainers.
* Amid all, traders should maintain their focus on stock selection, with preference to stock with relatively higher strength.
* And, we expect the prevailing tone to continue and eyeing 25,500 in Nifty soon.
BANKNIFTY
* After an initial uptick, Banking index traded sideways and concluded the session with decent gains.
* Mixed trend continued among the banking majors wherein HDFCBANK capped the upside while INDUSINDBK performed well.
* The index is gradually inching higher amid consolidation, with 50,900 acting as immediate support.
* Expect the prevailing tone to continue with an upside hurdle at 51650-51800 levels.
* Traders should align trades according to the trend and focus on risk management.
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