Nifty took a breather after two days of advance and ended marginally lower - Religare Broking
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Nifty
* Nifty took a breather after two days of advance and ended marginally lower.
* Mixed trends on the sectoral front kept the traders busy wherein pharma, FMCG and auto posted decent gains.
* Going ahead, the performance of the global markets, especially the US, will remain in focus for cues.
* Suggest continuing with positive bias until Nifty breaches 19,450 and prefer sectors other than banking and financials for long trades.
Banknifty
* Banking index opened with wide gap down and closed near days low losing over a percent.
* All banking majors ended lower. Wherein ICICI Bank, SBIN and Axis Bank contributed the maximum.
* It has closed below the intermediate support zone 43800 which coincides with its short term moving average.
* Suggest keeping a check on position size and focus on risk management.
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