Nifty resumed the corrective tone and shed over one and a half percent - Religare Broking Ltd
![](https://portfolio.investmentguruindia.com/uploads/news/religare broking.jpg)
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 resumed the corrective tone and shed over one and a half percent.
* All key sectors, barring pharma, ended lower wherein realty, metal and energy were among the worst hit.
* The pace of decline shows more pain ahead and the 20,800-21,000 zone may offer some support.
* We thus recommend keeping a check on leveraged positions and maintaining shorts too.
BANK NIFTY
* Banking index opened higher but selling pressure intensified as the day progressed and closed losing over two percent.
* Except ICICI Bank, all other banking stocks end in red. Wherein HDFC Bank, SBIN and Indusin bank lost the most.
* It has closed below 50% retracement line and 100 DEMA suggests weakness to continue.
* Going ahead we are eyeing 44600 zone which coincides with its long term moving average 200 EMA.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
![](https://portfolio.investmentguruindia.com/uploads/news/jul04v89_Wex0B3E.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/religare broking.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/HDFC Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Zomato07.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Piyush Goyal07.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/jul04v38_zDiylqc.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Prashant Thakur ANAROCK Group.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/jul03v152_BhgJWbe.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Shrikant Chouhan.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/religare broking.jpg)
Market Explorer - July 2024 by Religare Broking Ltd
![Market Wrap Up by Shrikant Chouhan, Head Equity Research, Kotak Securities Ltd](https://portfolio.investmentguruindia.com/uploads/news/Shrikant Chouhan.jpg)
![Sensex closes above 80,000 for first time, Nifty at 24,302](https://portfolio.investmentguruindia.com/uploads/news/stock28.jpg)
![Daily Market Analysis : The markets traded within a narrow range and ended nearly unchanged, pausing after Wednesday`s gains Says Mr. Ajit Mishra, Religare Broking Ltd](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
More News
![](https://portfolio.investmentguruindia.com/uploads/news/religare broking.jpg)
Banking index remained lackluster and volatile throughout the day to close marginally higher...
![Market Watch: Equities rise, but US Jobs data eyed - Geojit Financial Services Ltd](https://portfolio.investmentguruindia.com/uploads/news/Geojit Financial Services.jpg)
![Nifty opened on a flat note and remained in a small range throughout the day - Jainam Share Consultants](https://portfolio.investmentguruindia.com/uploads/news/jainam share consultant.jpg)
![Market Explorer : Nifty remained volatile in the broad range throughout the month and closed on a flat note by Religare Broking Ltd](https://portfolio.investmentguruindia.com/uploads/news/reli.jpg)