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NIFTY

* Nifty oscillated in a range and ended almost unchanged, taking a breather after the recent bounce.

* On the sectoral front, auto, metal and energy packs traded upbeat, decline in the IT majors toned down the positivity.

* Reiterate our mildly bullish view on the index and suggest continuing with a “buy on dips” approach till it holds 19,500.

* Traders should maintain extra caution on stock selection as volatility remains high during the earnings season.

BANKNIFTY

* Banking index traded lackluster in narrow range and finally settled marginally higher.

* Mixed trend was witnessed among the banking participants. Wherein HDFC Bank, ICICI Bank and Fedbank took the lead, while SBIN and Kotak Bank remained subdued.

* It closed around its short term moving average (20 EMA), sustainability above the same would induce upward momentum.

* Suggest keeping a check on aggressive trades until we see some stability in trend. 

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