Nifty consolidated in a range after the recent surge and ended almost unchanged - Religare Broking
Nifty
* Nifty consolidated in a range after the recent surge and ended almost unchanged.
* Mixed trend on the sectoral front kept the traders busy wherein energy and pharma posted decent gains while FMCG and metal settled lower.
* Suggest maintaining focus on stock selection and using intermediate dips to gradually add quality names.
* Traders should keep a close eye on the performance of the US markets for cues.
Banknifty
* Banking index remained volatile on expiry day and finally settled almost unchanged.
* Mixed trend was witnessed among the banking participants. Whereas SBIN, HDFC Bank and Kotak bank took the lead, while ICICI bank and Axis Bank closed lower.
* Banking index taking a breather after a vertical upmove with 47000-47200 acting intermediate hurdle zone.
* Maintain buy on dips approach and advice to accumulate private banks on dips.
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