Nifty was volatile on weekly expiry, ended slightly lower amid consolidation - Religare Broking Ltd

NIFTY
* Nifty traded volatile on the weekly expiry day and ended marginally lower, continuing the ongoing consolidation phase.
* After an initial uptick, the Nifty oscillated sharply in both directions while remaining within Wednesday’s trading range, ultimately closing at 25,405.30.
* However, the overall trend remains bullish and is expected to stay intact unless the index decisively breaks below the 25,200 mark.
* On the upside, the 25,650–25,750 zone is likely to act as an immediate hurdle.
* Participants should align their positions accordingly, with a strong focus on stock selection.
BANKNIFTY
* The banking index saw profit booking for the second consecutive session but remains within an upward channel.
* Except for IndusInd Bank and IDFC First Bank, all banking stocks in the index closed down, led by weakness in PNB and Kotak Mahindra Bank.
* The all-time high of 57,628.40 now acts as a strong resistance level, with a breakout potentially signaling new highs.
* On the flip side, the 56,390–56,100 zone will act as strong support provided by 50% and 61.8% retracement of recent up-move.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ000174330










Tag News

MOSt Market Roundup : Nifty opened near 25430 but fell to 25331 on mid-day profit booking by...



More News

Amidist range bound activity Nifty settled monthly expiry session tad below last sessions cl...


