Nifty traded lackluster after Thursday’s surge and ended marginally lower, in the absence of any fresh triggers - Religare Broking Ltd
NIFTY
* Nifty traded lackluster after Thursday’s surge and ended marginally lower, in the absence of any fresh triggers.
* The tone remained subdued from the outset, with consolidation in heavyweight stocks across sectors capping the move throughout the session.
* On the sectoral front, a mixed trend kept participants engaged. Realty, energy, and auto sectors edged higher, while IT witnessed some profit-taking, declining by nearly a percent.
* We continue to maintain our bullish outlook and recommend focusing on selective stock-picking.
BANK NIFTY
* The banking index remained flat throughout the session and ended unchanged.
* Mixed trend was seen among the banking majors wherein Canbk, Bankbaroda, Pnb performed well.
* A decisive breach of the 55,700-56,100 zone could pave the way for the index to reach 57,000+ levels.
* On the downside, 54400-54200 range will continue to act as support zone.
* Until then, adopt a "buy on dips" approach, prioritizing banking stocks that demonstrate sustained strength.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
