The banking index opened with a downward gap and traded under pressure, consolidating throughout the session - Religare Broking Ltd
NIFTY
* NIFTY began the week on a weak note, influenced by global cues, and declined by over half a percent.
* Among sectors, IT posted decent gains; on the flip side, energy, metal, and FMCG were the top laggards.
* Next critical hurdle stands at 200 DEMA i.e. 22.650 level, on the flip side nifty has eminent strong support at 23100 mark.
* Investors are advised to remain cautious and manage positions on both sides.
BANK NIFTY
* The banking index opened with a downward gap and traded under pressure, consolidating throughout the session.
* The index is trading within the range of 48000–49700 range, Breaking on either side can set the trend for momentum.
* Expect the index to continue trading within the range; breaking above 49700 cannot be ruled out.
* Traders are advised to exercise caution and follow strict risk management standards in the present sharp index moments.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
Tag News
Nifty opened with an upward gap and strong buying momentum from the opening tick led it to e...
