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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