Nifty remained volatile but managed to end marginally in the green, taking a breather after the recent decline - Religare Broking Ltd
Nifty
* Nifty remained volatile but managed to end marginally in the green, taking a breather after the recent decline.
* Following a flat start, the Nifty edged higher in early trade; however, profit-taking in heavyweight stocks trimmed most of the gains as the session progressed, leading to volatile swings through the day.
* On the benchmark front, Nifty is still holding above its first support zone—the 20 DEMA around 25,950—despite the volatility, aided by renewed buying interest in private banks and IT.
* We maintain a positive yet cautious outlook, emphasizing disciplined stock selection and prudent trade management.
Bank Nifty
* The banking index experienced a volatile trading session, ultimately ending nearly flat amid persistent uncertainty in demand-supply dynamics.
* Early gains lost traction as the index reversed in the latter half, forming a long-legged doji pattern.
* Sector performance remained mixed, with IndusInd Bank and Canara Bank exhibiting relative strength, while IDFC First Bank and Kotak Bank underperformed.
* Technically, the index faces immediate resistance near 59,800, with key support positioned around 58,300.
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