Nifty Ends Flat on Volatile Monthly Expiry Day - Religare Broking Ltd
NIFTY
* Nifty remained volatile on the monthly expiry day, ending largely unchanged as mixed cues kept participants cautious.
* Going forward, a decisive move above the 20-DEMA, currently around 22,825, would strengthen the prospects of further recovery towards 23,100-23,300 zone.
* Traders should remain selective, avoid aggressive leverage and maintain strict risk management amid elevated event risks.
* Investors should continue to focus on fundamentally strong companies with resilient earnings and reasonable valuations, favouring staggered accumulation over indiscriminate buying until the market establishes a more sustainable recovery
BANK NIFTY
* The banking index resumed its corrective trajectory after a brief pause, registering a lower close and sustaining levels below key short-to-medium-term EMAs.
* Despite a positive opening, selling pressure intensified during the latter half.
* Sectoral participation remained mixed, with Union Bank and Canara Bank demonstrating relative resilience, while AU Bank and ICICI Bank underperformed.
* Immediate resistance is placed near 54,800, while crucial support remains around the 53,000 zone.
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