Nifty witnessed fireworks at the beginning of the week and gained two percent - Religare Broking
Nifty
* Nifty witnessed fireworks at the beginning of the week and gained two percent, in continuation of the prevailing uptrend.
* All sectors participated in the move wherein banking majors contributed the maximum to the gains.
* Nifty may take a breather around the 20,750 zone.
* We recommend staying with the trend and utilizing a dip or consolidation as a buying opportunity
Banknifty
* Banking index witnessed a strong rally and closed at record highs gaining over three and half percent.
* All banking constituents ended in green. Wherein ICICI bank, HDFC bank and Kotak bank contributed the maximum.
* It has surpassed its previous hurdle of 46350 zone and trading at life high levels.
* Maintain buy on dips approach and advice to accumulate private banks on dips.
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