Nifty traded dull and ended almost unchanged on the weekly expiry day - Religare Broking Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
NIFTY
* Nifty traded dull and ended almost unchanged on the weekly expiry day
* Mixed trend continued on the sectoral front which kept the participants occupied wherein metal and FMCG posted strong gains while banking, auto and energy closed in red.
* We feel intermediate breathers are healthy as long as we do not see any major cut in the index.
* We reiterate our preference for index majors and large midcap over the smallcap counters.
BANK NIFTY
* Banking index took a breather after three days of upmove and settled lower by 0.27 percent.
* Mixed trend was witnessed among the banking participants. Wherein HDFC Bank and SBIN inched higher. While ICICI Bank and Axis Bank closed lower.
* Going forward, we are eyeing 48300 and 48600 levels in the banking index.
* Thus traders should continue with "Buy on Dips" approach and utilize the dip to accumulate the stocks which are showing higher relative strength.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
347.jpg)
