Nifty remained volatile and ended marginally higher - Religare Broking Ltd
NIFTY
* Nifty remained volatile and ended marginally higher, taking a breather after Thursday’s slide.
* Mixed trend on the sectoral front kept the traders occupied wherein a rebound in the banking majors was the key highlight.
* The rebound in the banking majors has eased some pressure but it is too early to say that we are out of the woods.
* Traders should continue with a cautious approach, especially in the midcap and smallcap space and prefer a hedged approach.
BANKNIFTY
* Banking index remained strong throughout the day and closed gaining nearly one and half percent.
* Most banking majors ended higher. Wherein ICICI bank, SBIN and Axis bank contributed the maximum.
* It has rebounded higher from the lower levels and has closed around its long term moving average i.e 100 DEMA.
* We suggests to focus more on risk management and wait for clarity
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