Nifty started the week on a volatile note and ended almost unchanged, taking a breather after the recent slide - Religare Broking Ltd
Nifty
* Nifty started the week on a volatile note and ended almost unchanged, taking a breather after the recent slide.
* Following a flat start, the Nifty oscillated sharply on both sides before finally settling at 24,634.90.
* We believe oversold positions may now lead to some consolidation in the Nifty, with strong support around the 24,400–24,500 zone and resistance placed at 24,800–25,000 zone.
* In the meantime, participants should focus on selective stock opportunities aligned with sectoral trends while keeping position sizes under check.
BANK NIFTY
* The banking index experienced a range-bound yet volatile session, ultimately closing flat with limited directional momentum.
* After three consecutive declines, the index registered a modest positive close, signaling a temporary pause in its corrective phase.
* Performance across constituents was mixed, with IndusInd Bank, Canara Bank, and Bank of Baroda emerging as notable gainers, while Axis Bank, ICICI Bank, and Kotak Bank underperformed.
* Technically, immediate resistance is placed at 55,000, with strong support near 53,800.
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