Nifty witnessed profit taking and ended almost flat, taking a breather on expected lines - Religare Broking Ltd
![](https://portfolio.investmentguruindia.com/uploads/news/religare broking.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
NIFTY
* Nifty witnessed profit taking and ended almost flat, taking a breather on expected lines.
* Among the key sectors, energy, pharma and FMCG gained the maximum while banking and financials were on the back foot.
* We expect the consolidation to continue in the index however the tone is likely to remain on the positive side.
* Traders should maintain their focus on stock selection and trade management citing the possible rise in volatility ahead.
BANKNIFTY
* Banking index opened gap down and traded volatile throughout the day to close the day lower by over 400 points.
* Mixed trend continued among the banking participants. Wherein SBIN, Kotak Bank performed well. While HDFC Bank and Indusin bank remained under pressure.
* It has closed around the support zone of its short term moving average i.e. 10 DEMA.
* Thus going ahead failure to hold 10 DEMA, could extend the profit taking in the index towards 51900 zones.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
![](https://portfolio.investmentguruindia.com/uploads/news/Funding.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Myntra_trent.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/FPI_09.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker_87.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Krishna Appala.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Alchemy Capital Management.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker_88.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/broker_1.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
Weekly Note by Mr. Ajit Mishra, SVP - Research, Religare Broking Ltd
![Market Quote : Global markets are currently resonating with the US Fed`s pledges of a rate cut in September says Vinod Nair, Head of Research, Geojit Financial Services](https://portfolio.investmentguruindia.com/uploads/news/Broker_87.jpg)
![Quote on Market by Krishna Appala, Sr. Research Analyst, Capitalmind Research](https://portfolio.investmentguruindia.com/uploads/news/Krishna Appala.jpg)
![Daily Market Commentary : Nifty traded in positive territory throughout the session on the last day of the month and made a fresh high above 25200 levels Says Mr. Siddhartha Khemka, Motilal Oswal](https://portfolio.investmentguruindia.com/uploads/news/Broker_88.jpg)