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NIFTY

* Nifty traded volatile for yet another session and managed to end marginally higher amid mixed cues.

* Mixed trend on the sectoral front kept the traders occupied wherein realty, IT and auto edged higher while financials and energy traded under pressure.

* The recent price action shows that bulls are consolidating their positions at record-high levels and waiting for some fresh triggers.

* Traders should continue with a “buy on dips’ approach, with a focus on stock selection.

BANK NIFTY

* Banking index remained lackluster and traded volatile in the range to finally close the session almost unchanged.

* Mixed trend continued among the banking majors. Wherein ICICI bank and Indusind bank contributed the most while SBIN and Axisbank capped the upside.

* It recovered intraday taking support at its short term moving average i.e 20 DEMA.

* We expect the consolidation to extent further, as the mix trend among the banking majors capping the upward momentum

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