04-01-2024 09:07 AM | Source: Religare Broking Ltd
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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