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NIFTY

* Nifty traded dull after Thursday’s surge and ended almost unchanged.

* Mixed trend on the sectoral front kept the traders occupied wherein auto, banking and financials performed well while FMCG and realty witnessed profit taking.

* It is normal to see a pause after a strong up move and traders should utilise any dip around 22,750-22,850 in Nifty as a buying opportunity.

* Focus more on stock selection and reiterate our preference for large cap and large midcap for now. 

* Stock of the Day – PFC. 

BANK NIFTY

* Banking index extended its upmove for second consecutive day and ended the session gaining over 0.40 percent.

* Mixed trend was witnessed among the banking participants. Wherein HDFC Bank and Axis Bank inched higher. Whereas  ICICI Bank and SBIN remained subdued.

* We expect the bullish tone to continue and any dips towards the support zone of 48600-48250 should be utilised as buying opportunity.

* Thus we advise traders to utilise the dips to accumulate the quality banking names and focus on stocks which are showing higher relative strength. 

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