Nifty Ends Lower Amid Volatility, Global Cues and Geopolitical Uncertainty By - Religare Broking Ltd
NIFTY
* Nifty remained volatile on Tuesday and ended lower amid mixed global cues and lingering geopolitical uncertainty.
* After a flat start, the Nifty attempted to inch higher; however, sustained pressure in heavyweight counters, particularly from the banking pack, gradually dragged the index lower as the session progressed.
* Immediate support is now placed near the 23,800 level, while the 24,300–24,500 zone may act as the next resistance band.
* Amid the prevailing scenario, we continue to maintain a positive yet cautious stance and recommend focusing on quality stocks across sectors while keeping a close check on position sizing.
BANKNIFTY
* The banking index faced resistance near the 50 DEMA after two consecutive sessions of gains.
* Although the index opened positively, it lost momentum in the latter half and closed lower.
* Market performance remained mixed, with buying interest seen in Yes Bank and AU Small Finance Bank, while selling pressure persisted in ICICI Bank and HDFC Bank.
* Immediate resistance is placed at 56,300, while support is seen near 54,200.
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