Nifty traded lackluster on the weekly expiry day and ended almost unchanged - Religare Broking Ltd
Nifty
* Nifty traded lackluster on the weekly expiry day and ended almost unchanged.
* After a flat start, the Nifty oscillated within a narrow range before finally settling at 24,631.30 level.
* Going forward, a decisive break above 24,800 on the Nifty could spark fresh momentum; otherwise, consolidation may persist.
* Participants should maintain a stock-specific trading approach with a focus on risk management.
Bank Nifty
* The banking index recorded its first weekly gain following two consecutive weeks of decline, indicating a potential rebound.
* The 61.8% Fibonacci retracement level continues to provide robust support at current prices and warrants close monitoring.
* Momentum indicators show divergence: AU Bank and SBIN exhibited relative strength, whereas IDFC First Bank and IndusInd Bank underperformed.
* The 54,900–55,900 range represents a critical consolidation zone, supported by the convergence of the 50-day and 100-day Double Exponential Moving Averages (DEMA).
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