Nifty remained range bound and settled marginally higher amid mixed signals - Religare Broking
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NIFTY
* Nifty remained range bound and settled marginally higher amid mixed signals.
* Among the key sectors, energy and FMCG were among the top performers while IT and metal settled lower.
* Seeing buying interest on every dip in the index and that reaffirms our bullish view.
* We are seeing defensive viz. FMCG and pharma doing well on the expected lines.
BANK NIFTY
* Banking index continues to remain volatile for yet another session and finally settled almost unchanged.
* Mix trend was witnessed among the banking participants. Wherein SBI and Axis bank topped the list whereas ICICI bank and HDFC bank remained subdued.
* Maintain our bullish stance and suggest focusing on buying opportunities amid consolidation.
* Trader should focus on the banking stocks which are showing greater relative strength
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