IGI Logo

Nifty

* Nifty remained volatile on the weekly expiry day and ended marginally lower amid mixed cues.

* After an initial uptick, the Nifty 50 drifted lower for most of the session, though a rebound in the final hour trimmed some losses and helped it settle at 25,732.30.

* We maintain a cautious view on the Nifty and suggest continuing with a sell-on-rise approach until the index decisively reclaims the 26,000 level.

* A decisive breach of medium-term 100-day EMA, placed near 25,600, could accelerate the decline toward the 25,400 zone.

* Participants should focus on stock-specific opportunities and prefer a hedged approach amid the prevailing choppiness.

Bank Nifty

* The banking index extended its positive momentum for a second consecutive session, reinforcing the short-term bullish bias.

* The index opened with a gap-up, declined for most of the session, and recovered in the final hour to close above key short-term moving averages.

* Momentum was mixed, with ICICI Bank and Union Bank outperforming, while AU Bank and IDFC First Bank lagged.

* Resistance is positioned near 60,100, whereas crucial support is placed around 58,700.

Please refer disclaimer at https://www.religareonline.com/disclaimer

SEBI Registration number is INZ000174330