IGI Logo

Nifty

 * Nifty traded in a narrow range and ended nearly flat on Friday.

 * After a positive start, the Nifty slipped in the first half, weighed down by weakness in IT majors; however, resilience in select heavyweights supported a recovery as the session progressed.

 * Sector-wise, auto stocks outperformed, rising over 1% on optimism following reduced GST rates for vehicles.

 * Participants are advised to align their positions accordingly, with a focus on risk management.

Bank Nifty

 * The banking index experienced a highly volatile session, oscillating on both sides yet maintaining its broader sideways trajectory.

 * Price action continues to respect the 200 DEMA, and unless a decisive close occurs below this level, a potential reversal remains likely in the near term.

 * Momentum was sectorally mixed, with Canara Bank and IndusInd Bank outperforming, while Kotak Bank and SBI lagged.

 * Immediate resistance is observed near 54,900, while key supports are positioned at 53,000.

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

SEBI Registration number is INZ000174330