IGI Logo

NIFTY

* Nifty traded volatile for yet another session but ended with decent gains.

* Among the sectoral indices, banking, financials and pharma put up a good show while realty and metal witnessed profit taking.

* The rotational buying across sectors is helping the index to maintain a positive tone and we are eyeing 22,800 in Nifty.

* We thus reiterate our preference for index majors and large midcaps for long trades and suggest reducing exposure to the smallcap counters.

BANK NIFTY

* Banking index outperformed the benchmark index and continued its upward momentum to close the day higher nearly a percent.

* Almost all the private banks contributed to move. Wherein Kotakbank and Axisbank contributed the maximum.

* Private banking majors outshined the PSU Banks and managed to close higher by over a percent.

* We suggests to focus on stocks which are showing higher relative strength.

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

SEBI Registration number is INZ000174330