Nifty edged higher after a day of pause - Religare Broking
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NIFTY
* Nifty edged higher after a day of pause and gained nearly half a percent.
* Mixed trend on the sectoral front kept the traders busy wherein energy and banking posted decent gains.
* Banking, financials and IT hold prominence for further up move so align positions accordingly.
* Reiterate our positive view, and suggest continuing with stock-specific approach.
BANKNIFTY
* Banking index recoup its previous session losses and closed near days high gaining 0.87%.
* Barring ICICI Bank all banking majors ended in green. Wherein Axis Bank, SBI, HDFC Bank and SBI contributed the most.
* PSU banking pack edged higher and significantly outperformed the private banking majors.
Expect outperformance to continue and
scale higher towards resistance zone of
46200.
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