Nifty edged higher ahead of the interim budget and gained nearly a percent - Religare Broking Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
NIFTY
* Nifty edged higher ahead of the interim budget and gained nearly a percent.
* Most sectors traded in sync with the move and ended higher wherein pharma, realty and banking were among the top gainers.
* A decisive close above 21,850 in Nifty is critical to inch higher towards the 22,000 zone else profit taking would resume.
* We reiterate our view to focus on stock selection and trade management citing the upcoming events.
BANKNIFTY
* Banking index remained strong for the first half while in second half turned sideways and settled higher gaining over 600 paints.
* All banking major contributed to the move. Wherein HDFC Bank and ICICI gains contributed the maximum.
* It has rebounded higher from the long term moving average, however, 46300 remains the crucial resistance which coincides with short term moving average ribbon.
* We expect consolidation with the positive bias. Focus on the stock selection and risk management.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
More News
The Markets are expected to open marginally higher today as trend - ARETE Securities
