Nifty saw lackluster trading on Friday, ending slightly lower as they took a breather following a strong surge - Religare Broking Ltd
NIFTY
* NIFTY saw lackluster trading on Friday, ending slightly lower as they took a breather following a strong surge
* Sectoral performance was mixed, with realty and metals showing solid gains, while FMCG and energy declined.
* We remain bullish and recommend using any interim dips to accumulate high-quality large-cap and large mid-cap stocks.
BANKNIFTY
* Banking index extended gains after a sluggish start and ended on a positive note.
* Among the private banking majors, INDUSINDBK and AXISBANK inched higher while ICICIBANK and KOTAKBANK remained slightly on the back foot.
* We expect the positive tone to continue towards 52,350-52,500 levels, with support shifting higher to 51,400 and 51,250 levels.
* Thus traders should utilize the dips to accumulate the quality banking names and focus on stocks which are showing higher relative strength.
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