Nifty remained volatile and ended nearly flat, extending Tuesday`s trend - Religare Broking Ltd
Nifty
* Nifty remained volatile and ended nearly flat, extending Tuesday’s trend.
* Sectoral trends remained mixed, with pharma, banking, and auto seeing gains, while IT and realty lagged.
* Further consolidation is likely in the coming sessions, with heightened volatility expected due to the weekly expiry.
* Traders should maintain a stock-specific approach, focusing on large caps and prominent midcaps.
Bank Nifty
* The banking index traded within a range, in lack of clear direction and eventually settled gaining nearly half a percent .
* Mixed trend continued among the banking majors wherein Indusindbk, Kotakbank and Hdfcbank gained while others remained on losing side.
* The index is likely to trade in a broader range where 47700-47500 will act as lower band and 48300-48600 as upper band.
* Till then, avoid aggressive position and wait for any directional move
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