Markets ended the gaining streak and lost nearly half a percent, tracking feeble global cues - Religare Broking Ltd
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NIFTY
* Markets ended the gaining streak and lost nearly half a percent, tracking feeble global cues.
* Mixed trend on the sectoral front kept the traders busy wherein pharma, realty and FMCG edged higher while IT and metal witnessed profit taking.
* We suggest maintaining focus on stock selection and trade management, with support zone intact at 24,850-25,000 zone in Nifty.
BANKNIFTY
* Banking index opened lower but managed to curb the initial losses to finally settle with half a percent cut.
* Barring HDFCBANK, all the banking majors ended in red wherein PSU banking stock suffered the most.
* The index is hovering around its short-term moving averages. Indications are in favor of consolidation considering today’s price action. ? Traders are advised to avoid aggressive trades and wait for further confirmation.
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