IGI Logo

NIFTY

* Nifty traded lackluster and lost nearly half a percent, in continuation to the prevailing consolidation phase. 

* Mixed trend on the sectoral front kept the traders occupied wherein realty and oil&gas edged higher. 

* Indications are in favor of consolidation tone to continue until we see a decisive break from the range i.e. 21,850-22,200 level.

* Traders should limit their exposure and prefer hedged trades, with a focus on index majors and large midcaps.

BANKNIFTY

* Banking index opened lower and traded lackluster in a defined range to settle lower by over half a percent. 

* Mixed trend continues among the banking majors. Wherein Axis Bank and Indusind Bank inch higher. Whereas HDFC Bank and ICICI Bank remained under pressure. 

* It has failed to hold above its short term moving average i.e. 20 DEMA and closed below the same. 

* Indications are consolidation to extend further, as mix trend continued among the private banking majors.

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

SEBI Registration number is INZ000174330