IGI Logo

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.

Please refer disclaimer at https://www.religareonline.com/disclaimer

SEBI Registration number is INZ000174330