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NIFTY

* Nifty resumed up move on the monthly expiry day and gained nearly a percent.

* Most sectors contributed to the move wherein pharma, auto and energy were among the top gainers.

* The move has paved the way for a new high in Nifty soon, with strong support at 22,300 level.

* Traders should focus more on identifying stocks and continue with a “buy on dips” approach.

BANK NIFTY

* Banking index opened lower but witnessed the strong upward momentum as the day progressed and closed the session with the gains over 300 points.

* Barring kotakbank and HDFC Bank all other banking majors contributed to the move. Wherein Axis Bank and SBI rallied over 5% each.

* PSU Banking index outshined the private banks significantly, gaining over 3.5 percent.

* We are eyeing 48700 and 49100 in the banking index, as it has surpassed its hurdle area of 48200 zone.

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