Nifty remained volatile but managed to close slightly in the green amid mixed signals - Religare Broking Ltd
NIFTY
* Nifty remained volatile but managed to close slightly in the green amid mixed signals.
* Geopolitical tensions, following India’s military response to a terrorist attack, triggered a gap-down opening.
* Sector-wise, the trend was mixed—auto, realty, and metal sectors posted gains, while pharma and FMCG ended in the red.
* On the index front, Nifty is attempting to hold the 24,100 level; a breach could lead to further downside towards 23,800.
BANK NIFTY
* The banking index recovered from its previous session's losses, gaining 0.63%.
* Most of the major banks saw positive gains, with private banking giants leading the charge, although PNB and IndusInd Bank witnessed profit booking.
* The index bounced back from the support level of its consolidation breakout, limiting further profit-taking.
* Maintaining above this level is critical for the uptrend to remain continue.
* In terms of levels, support will remain at 54,200-53,900, while the immediate resistance on the upside is at 55,000-55,400.
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