Nifty edged higher after a muted session and gained nearly half a percent - Religare Broking Ltd
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NIFTY
* Nifty edged higher after a muted session and gained nearly half a percent.
* Mixed trend continued on the sectoral front wherein energy and financials were among the top gainers while auto and realty closed flat.
* We reiterate our mildly bullish view on Nifty and suggest continuing with a “buy on dips” approach till it manages to hold 19,600.
* Traders should keep a check on stock selection and risk management aspects.
BANKNIFTY
* Banking index opened gap up but failed to hold at higher levels and closed near days low with marginal gains.
* On the stocks front, HDFC Bank, Kotak Bank and ICICI Bank were among the top gainers wherein Indusind Bank and Bankdhan Bank remained subdued.
* It failed to sustain above intermediate hurdle 44700 zone which coincides with its short term moving average.
* Trade in sync with the trend while keeping a check on position size.
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