Nifty traded volatile Thursday, ending nearly flat, extending corrective phase amid mixed cues - Religare Broking Ltd
NIFTY
* Nifty traded with volatility on Thursday and ended almost unchanged amid mixed cues, largely extending the prevailing corrective phase.
* The Nifty opened above the 25,500 mark, supported by gains in IT stocks and positive momentum from global indices.
* However, the risk of further correction could persist until the index decisively surpasses the immediate hurdle at 25,600.
* In the current environment of intermittent volatility and selective buying, participants are advised to maintain a stock-specific approach, focus on sectors showing relative strength, and adhere to disciplined risk management.
BANKNIFTY
* The banking index closed with modest gains amid volatility, following declines in the prior two sessions.
* Despite a gap-up opening, early advances were retraced during the first half, before momentum improved later, preserving a bias.
* Performance across constituents was mixed, with IDFC First Bank and Bank of Baroda outperforming, while HDFC Bank and AU Small Finance Bank lagged.
* Immediate resistance is seen near 61,800, while key support lies around 60,500.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ00017433
