Nifty edged lower for the second consecutive session and lost over half a percent - Religare Broking Ltd
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NIFTY
* Nifty edged lower for the second consecutive session and lost over half a percent.
* Renewed buying in PSU banks, realty and pharma counters kept the traders occupied.
* Participants should focus largely on buying opportunities on dips till Nifty holds 21,200 levels.
* Traders should align their positions accordingly but refrain from aggressive longs.
BANK NIFTY
* Banking index remained volatile for yet another day and closed marginally lower.
* Baring HDFC Bank all other private banking majors ended in green. Wherein Indusind bank and Axis bank remained top performers.
* Going ahead, it has a crucial support around 47300 zone which coincides with its short term moving average.
* Expect consolidation to extend further as there is a mixed trend among private banking majors.
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