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NIFTY

* Nifty took a breather after three days of rebound and ended almost unchanged.

*  Mixed trend on the sectoral front kept the traders occupied wherein energy and realty edged higher while FMCG and auto closed in the red.

* We reiterate our cautious view on the Nifty index citing the hurdle at the 22,300 -22,400 zone.

* Apart from the domestic factors, we suggest keeping a close watch on the US markets for cues.

BANK NIFTY

* Banking index took a breather after two days of recovery and closed the session lower by 170 points.

* Mixed trend continued among the banking majors. Wherein HDFC Bank and Indusind Bank closed in red. While ICICI Bank and Axisbank inched higher.

* It has an intermediate hurdle around 48100 which coincides with short term moving average i.e. 20 DEMA.

* Stay stock specific and focus on the stocks which are showing higher relative strength.

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