Nifty traded with a negative bias on Thursday and finished lower amid mixed cues - Religare Broking Ltd
NIFTY
* Nifty traded with a negative bias on Thursday and finished lower amid mixed cues.
* The Nifty opened weak and remained in negative territory for most of the session, eventually settling around the 25,807.20 level.
* Still, the downside may remain limited due to strength in other key sectors, and the Nifty is expected to hold the 25,600–25,700 zone.
* In the current environment of volatility and mixed cues, participants are advised to maintain a selective, stock-specific approach and follow strict risk management until the index resumes its uptrend.
BANKNIFTY
* The banking index extended its consolidation phase for the fourth consecutive session, continuing to trade in a narrow range, keeping the broader trend upward.
* The index opened on a positive note but lacked follow-through, resulting in range-bound price action throughout the session.
* Stock-specific momentum was mixed, with ICICI Bank and AU Bank displaying relative strength, whereas PNB and Federal Bank lagged.
* Immediate resistance is observed near 61,500, while key support is placed around 60,200.
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