Nifty edged higher for the fourth successive session and reclaimed their record high - Religare Broking Ltd
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NIFTY
* Nifty edged higher for the fourth successive session and reclaimed their record high.
* The majority of sectors traded in sync wherein metal, auto and banking were among the top contributors.
* We expect the prevailing move to extend further now and eyeing 22,150 levels.
* Stay focused on stock selection and prefer index majors and quality midcaps for fresh buying
BANK NIFTY
* Banking index remained strong throughout the day and closed at record high levels gaining over a percent.
* All the banking stocks ended in green. HDFC bank, ICICI bank and SBI contributed the maximum.
* It rebounded higher finding support around its short term moving average i.w 10 DEMA.
* Participants should align their trades accordingly and avoid contrarian positions.
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Daily market commentary : Nifty traded firmly for the most part of the day and closed with g...
