The monthly expiry day was a roller-coaster ride for participants, ultimately ending on a positive note - Religare Broking Ltd
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NIFTY
* The monthly expiry day was a roller-coaster ride for participants, ultimately ending on a positive note.
* Sector-wise, mixed trends persisted, with auto, FMCG, and energy emerging as the top gainers, while pharma and metal sectors saw some profit-taking.
* Given the current scenario, traders should look for buying opportunities on dips, focusing on less volatile sectors or themes like IT, FMCG, and pharma, while being selective with others
BANKNIFTY
* Banking index traded volatile and eventually ended on a flat note.
* Mixed trend was witnessed among the banking participants wherein SBIN and AXISBANK managed to close in green while KOTAKBANK remained under pressure.
* The recent move indicates the prevailing tone to continue until it holds 50900-50700 levels.
* Traders should avoid aggressive bets when it comes to banking names and focus on risk management.
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Weekly Note by Mr. Ajit Mishra, SVP - Research, Religare Broking Ltd
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