Nifty Ends Marginally Lower Amid Crude Oil Concerns and Fed Caution - Religare Broking Ltd
NIFTY
* Nifty traded volatile on Wednesday and ended marginally lower as elevated crude oil prices, geopolitical uncertainty and caution ahead of the US Federal Reserve’s policy decision weighed on investor sentiment.
* The Nifty settled around 22,698, down 0.22%, after slipping below the 22,500 mark during the session, reflecting continued uncertainty and a lack of sustained buying support.
* Technically, the Nifty’s inability to sustain above the 20-DEMA, currently around 22,825, keeps the near-term outlook cautious.
* Against this backdrop, traders should remain selective, avoid aggressive leverage and maintain disciplined risk management until the market establishes a clearer directional trend.
BANK NIFTY
* The banking index staged a modest recovery after the previous session’s decline, consolidating sideways while r e m a i n i n g b e l o w k e y short-to-medium-term EMAs, indicating persistent weakness.
* Despite a gap-down opening, buying interest emerged at lower levels, enabling a positive close.
* Sectoral performance remained mixed, with AU Bank and IDFC First Bank demonstrating relative resilience, while YES Bank and Union Bank underperformed.
* Immediate resistance is placed near 55,000, with crucial support around 53,200.
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