Nifty traded subdued and ended marginally lower, taking a breather after an eventful week - Religare Broking Ltd
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Nifty
* Nifty traded subdued and ended marginally lower, taking a breather after an eventful week.
* Mixed trend on the sectoral front kept the traders occupied wherein realty and pharma were among the top gainers while IT and metal settled in the red.
* We feel it is healthy if Nifty spends some time around the current levels, after experiencing extreme swings last week.
* Focus should remain on stock selection and utlise consolidation to accumulate quality names.
Bank Nifty
* Banking index remained volatile throughout the day and closed near the opening range with marginal loss.
* Mixed trend continued among the private banking majors. Wherein Axis Bank and ICICI Bank closed higher. While HDFC Bank and Kotak bank closed in red.
* It is hovering around the intermediate support zone of 49700, sustenance above the same would propel the bullish tone towards 50700 zones.
* Focus on the risk management and prefer private banking stocks over PSU Banks.
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