IGI Logo

NIFTY

* It turned out to be an eventful day for market participants, as the benchmark index witnessed sharp swings in both directions before finally closing with marginal gains.

* Eventually, the Nifty ended with marginal gains, up 0.3% at the 25,044.35 level.

* The Nifty's failure to surpass the 25,200 resistance level indicates that the bears are still active and not ready to give in.

* Participants are advised to maintain a positive yet cautious stance, with a strong focus on stock selection driven by sectoral trends.

BANKNIFTY

* The banking index is decisively trading above its consolidation range, riding in a strong upward channel, signaling sustained bullish momentum.

* Barring IndusInd Bank, all key banking stocks are rallying, with Canara Bank leading the charge.

* Robust participation from private banking giants boosts confidence for further gains.

* As the index oscillates, dips near 56100-55500 present excellent buying opportunities, targeting a strong resistance around 57500. The outlook remains firmly bullish.

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

SEBI Registration number is INZ000174330