Nifty is expected to defend the 25,100-25,200 zone during any dips, while 25,550 remains a key resistance level - Religare Broking Ltd
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NIFTY
* Markets remained volatile for another session, ending flat in line with global trends ahead of the US Fed meeting.
* Most sectors were under pressure, but strength in banking and financial majors helped limit the downside.
* Nifty is expected to defend the 25,100-25,200 zone during any dips, while 25,550 remains a key resistance level.
* Despite a generally positive tone, traders are advised to hold off on initiating new positions until the markets stabilize.
BANK NIFTY
* Banking index advanced strength to strength as the day progressed and gained nearly a percent.
* Most of the banking stocks contributed to the move wherein ICICIBANK, HDFCBANK and SBIN contributed the maximum.
* The index almost tested the level of 53000 mark and formed a strong bullish candle. Going ahead, the tone is likely to remain positive, however, we may see impact of US fed interest rate decision in Thursday’s session.
* Traders are advised to align the trades accordingly and prefer a hedged approach.
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