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2025-08-06 08:51:39 am | Source: Religare Broking Ltd
Nifty reversed Monday`s gains and lost nearly half a percent, continuing the prevailing corrective trend - Religare Broking Ltd
Nifty reversed Monday`s gains and lost nearly half a percent, continuing the prevailing corrective trend - Religare Broking Ltd

NIFTY

* Nifty reversed Monday’s gains and lost nearly half a percent, continuing the prevailing corrective trend.

* After an initial downtick, the Nifty moved in a narrow range and finally settled at 24,649.55 level.

* Most sectors ended in the red, with pharma, FMCG, and realty among the top losers.

* Amid this corrective phase, select stocks across sectors are showing noticeable strength and offering buying opportunities.

* Participants should therefore maintain a stock-specific approach and focus on prudent position sizing.

 

BANKNIFTY

* The banking index declined, establishing lower lows after breaching its consolidation range and ascending trendline.

* Market movement was mixed; IndusInd Bank, SBI, and Kotak Mahindra Bank outperformed, while ICICI Bank, AU Small Finance Bank, and PNB lost momentum.

* If the index breaks below the current support at 55,100, further declines toward the 54,900–54,500 range are anticipated.

* On any recovery, resistance levels are projected at 55,700 and 56,300 (20-day EMA).

 

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