IGI Logo

NIFTY

* Markets extended gains for yet another session and rose nearly half a percent.

* All sectors contributed to the move wherein realty, oil&gas and banking posted decent gains.

* Reiterate a cautious view and suggest awaiting a decisive break above 19,400 for a sustained recovery.

* There is no shortage of stock-specific opportunities so traders should maintain their focus on stock selection.

BANKNIFTY

* Banking index opened gap up and traded in narrow range and gained over half a percent.

* Barring Kotak Bank and indusind bank all other banking major closed higher. ICICI Bank, HDFC Bank and SBI contributed the maximum.

* Intermediate hurdle placed around 43500, which coincides with its short term average i.e. 20 DEMA.

* Traders should align thier positions according and focus on risk management.

Please refer disclaimer at https://www.religareonline.com/disclaimer

SEBI Registration number is INZ000174330