IGI Logo

NIFTY

* Nifty came under pressure on the weekly expiry day and lost over a percent, following a brief phase of consolidation.

* In line with the benchmark trend, most sectors ended in the red, with realty, energy, and auto emerging as the top losers.

* Technically, the Nifty has once again approached the support zone of its short-term moving average — the 20-day EMA — which currently lies around the 24,800 mark.

* It is advisable to avoid aggressive long positions until a clearer directional trend emerges

BANK NIFTY

* The banking index maintained its downward trend and ended with losses of 0.67%.

* All banking stocks fell, with the exception of Aubank which managed to stay slightly positive and gradually inching higher towards its all-time high.

* Though the index might slip down further but overall tone still remains bullish.

* A close above the recent high of around 57,100 would signal the continuation of the upward rally.

* On the downside, support for the index is seen in the 55,700–55,300 range, while intermediate resistance is found between 56,400 and 56,800.

Please refer disclaimer at https://www.religareonline.com/disclaimer

SEBI Registration number is INZ000174330