Nifty took a breather after yesterday`s fall and gained nearly half a percent - Religare Broking
NIFTY
* Nifty took a breather after yesterday’s fall and gained nearly half a percent.
* Most sectors participated in the rebound wherein energy, metal and banking were among the top performers.
* Participants should align their trades accordingly and prefer sectors, which are showing relatively higher strength.
* Performance of the US markets would play a critical role in the next directional move so keep a close watch.
BANK NIFTY
* Banking index recovered smartly from the lower levels and closed higher by 300 points.
* Kotak bank and HDFC Bank took the lead wherein ICICI bank and Axis bank remained subdued.
* Banking index dropped below its short term average .i.e. 10 DEMA but recovered quickly and closed above the same.
* Now sustainability above 48250 zone is critical to continue its upward momentum.
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