IGI Logo

NIFTY

* Nifty took a breather after four days of advance and ended marginally lower.

* The profit taking in the IT, realty and energy majors were weighing on the sentiment while metal and FMCG showed resilience

* Indications are in favor of further consolidation in the index and expect Nifty to hold the 21,750-21,900 zone.

* Traders should maintain extra caution in stock selection now citing volatility due to earnings.

BANKNIFTY

* Banking index remained volatile and finally closed marginally lower.

* Baring HDFC bank also other private banking closed lower. Wherein Indusin bank and Federal bank lost the most.

* To continue its upward momentum, banking index need to surpass the hurdle 48400 zone.

* Traders must focus on stock selection and risk management.

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

SEBI Registration number is INZ000174330