Nifty Ends Flat Amid Global Rate, Crude Oil Concerns - Religare Broking Ltd
NIFTY
* Nifty traded volatile on Monday and ended almost unchanged as investors balanced easing concerns over the global interest-rate outlook against renewed pressure from crude oil prices and geopolitical uncertainties.
* Technically, the Nifty continues to hold above the crucial 24,350–24,500 support zone, keeping the broader bullish structure intact despite the recent consolidation.
* The index is currently consolidating below the immediate hurdle of 24,800–25,000, and a decisive breakout could pave the way towards 25,200.
* Given the mixed setup and elevated crude volatility, we continue to advocate a "buy-on-dips" strategy, with a preference for relatively stronger sectors and stocks while maintaining disciplined risk and position management.
BANK NIFTY
* The Banking Index remained range-bound, with the 20 DEMA continuing to act as a key dynamic support.
* Despite a firm opening, sustained selling pressure kept the index under pressure throughout the session.
* Sectoral participation remained mixed, with Axis Bank and IndusInd Bank demonstrating relative strength, while SBI and Canara Bank underperformed.
* Immediate resistance comes near 58,600, while 57,100 remains the crucial support zone.
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