Traders should align their positions accordingly and focus on risk management - Religare Broking
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Nifty
* Nifty started the week on a subdued note and closed almost unchanged
* Mixed trend was witnessed on the sectoral front wherein IT posted decent gains while auto and metal ended in the red.
* We reiterate our bullish view and suggest continuing with the “buy on dips” approach.
* Traders should stick with the other performing sectors and utilise this phase to gradually add quality names.
Banknifty
* Banking index remained volatile throughout the day and finally closed almost unchanged.
* Mixed trend was witnessed among banking participants. Wherein Kotakbank, Indusind bank closed higher, while Axisbank and Bandhan bank remained subdued.
* It has an intermediate hurdle around 43800 zone which coincides with moving average ribbon.
* Traders should align their positions accordingly and focus on risk management.
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