Nifty made a recovery attempt after Thursday`s fall and managed to close half a percent higher - Religare Broking Ltd
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NIFTY
* Nifty made a recovery attempt after Thursday’s fall and managed to close half a percent higher.
* Among the key sectors, pharma and metal were in the limelight while IT traded subdued.
* Though the pace of decline has softened, the tone is still negative. Hurdle intact at 19,750.
* Mixed trend on the sectoral front is offering opportunities on both sides. Stay stock-specific.
BANKNIFTY
* Banking also contributed to the rebound and gained over half a percent.
* Tone remained mixed among banking majors. ICICI Bank, SBI and Axis Bank were the top contributors.
* Short term moving average ( 20 EMA) which currently lies around 44900 would continue to act as a hurdle.
* Suggest keeping a check on aggressive trades until we see some stability in trend.
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