01-03-2024 09:43 AM | Source: Religare Broking Ltd
Nifty traded volatile on the monthly expiry day - Religare Broking Ltd

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NIFTY

* Nifty traded volatile on the monthly expiry day but managed to end marginally higher.

* Lackluster move on the sectoral front kept the traders on their toes wherein realty and IT edged lower.

* Expect the index to face a hurdle around the 22,100-22,250 zone in case of a recovery.

* Avoid aggressive trades in the current scenario and utilize rebound to reduce longs.

 

BANK NIFTY

* Banking index inched gradually higher as the day progressed after a weak start and finally closed marginally higher.

* Barring HDFC Bank, all other private banking majors ended on a positive note. Wherein ICICI Bank and Indusind Bank remained top gainers.

* It rebounded higher from the long term average, but facing hurdle around its short term moving average ribbon.

* Traders should refrain from creating aggressive longs and focus on stocks which are showing greater relative strength.

 

 

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