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Nifty started the calendar year on a volatile note and finally settled almost unchanged - Religare Broking Ltd
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NIFTY
* Nifty started the calendar year on a volatile note and finally settled almost unchanged.
* Mixed trend on the sectoral front kept the traders busy wherein FMCG and IT ended marginally higher.
* Indications are in favor of prevailing consolidation to extend and expect Nifty to hold the 21,500-21,600 zone.
* Traders should maintain their focus on stock selection and overnight risk management.
BANK NIFTY
* Banking index remained strong throughout the day but pared all its gains in the last hour and finally settled marginally lower.
* Mixed trend was witnessed among banking participants. Wherein ICICI Bank, Bank Baroda were among top gainers.
* Going ahead, 47900 zone remains the crucial support which coincides with its short term average.
* Traders should focus on stock selection and prefer banking names which are showing higher relative strength.
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