Nifty remained volatile on the monthly expiry day and settled almost flat - Religare Broking Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
NIFTY
* Nifty remained volatile on the monthly expiry day and settled almost flat.
* Energy, auto and pharma performed well while metal and banking settled lower.
* Markets are showing noticeable resilience amid consolidation. We reiterate our view to look for buying opportunity on dips until Nifty holds 24,200 level.
* Apart from earnings, the performance of the global indices, especially the US, will be in focus for cues.
BANKNIFTY
* Banking index extended losses for the third straight day and continued to underperform the benchmark index.
* Among the banking majors, AXISBANK witnessed sharp cut while KOTAKBANK and HDFCBANK closed in green.
* Considering the formation of spinning top around 50 SMA, it is more likely that the index may take a breather after this fall.
* Traders should align their trades accordingly and focus on risk management.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
