IGI Logo

NIFTY

* Nifty traded volatile in a narrow range and finally closed almost unchanged, taking a breather after a recent surge.

* On the sectoral front, auto, metal and realty were among the top gainers whereas IT and pharma closed in red.

* We need participation from the heavyweights, especially banking majors to trigger the next leg of upmove in the index.

* Buoyancy in the broader market is encouraging but traders should stay selective and maintain a “buy on dips’ approach.

BANKNIFTY

* Banking index remained volatile after an initial upmove and closed the day on the flat note.

* Mixed trend was witnessed among the private banking majors. ICICI Bank and Kotak Bank capped the upside. While HDFC Bank and Indusind bank closed higher.

* To continue its upward momentum, participation from the private banking majors would play a crucial role.

* Thus traders should remain stock specific and continue with "Buy on Dips" approach.

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

SEBI Registration number is INZ000174330