Nifty extended rebound for the fourth successive session and gained over half a percent - Religare Broking Ltd
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NIFTY
* Nifty extended rebound for the fourth successive session and gained over half a percent.
* Most of the sectors were aligned to the move wherein auto, realty and pharma were among the top gainers.
* We need sustainability above 22,150 to end the consolidation and march towards the 22,500+ zone.
* the performance of the global indices, especially the US, will remain on their radar.
BANK NIFTY
* Banking index remained lackluster trading in narrow range to close higher for third straight session in a row.
* SBIN and Axisbank capped the upside wherein HDFC Bank and ICICI bank contributed the maximum.
* It has closed above all the key moving averages, now sustainably above 46200 would we critical for index to continue its upward momentum.
* Private banking majors participation will be important to maintain bullish bias in the banking index.
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