IGI Logo

NIFTY

* Nifty traded volatile for yet another session and ended almost unchanged.

* Mixed trend continued on the sectoral front wherein energy, auto and realty performed well while FMCG and pharma were slightly on the back foot.

* The rotational participation from the heavyweights is helping the index to maintain the positive tone amid consolidation.

* We expect the prevailing trend to continue and now eyeing 25,100 in the Nifty

BANKNIFTY

* Banking index remained range bound and ended on a flat note.

* Mixed trend was witnessed among the banking majors wherein INDUSINDBK and HDFCBANK managed to close in green.

* The index has strong support at lower levels but at the same time is unable to hold gains near its intermediate resistance. Therefore, consolidation in banking index may continue.

* Traders should stay selective and wait for clarity

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

SEBI Registration number is INZ000174330