Nifty InstaView 09 Mar’21: Banks Matter    

Nifty View: Benchmark Nifty index managed a swift up move in today’s session to post a confirmed close above the psychological 15k mark. And support came in from the pocket of the market which matters the most - Banks and Financials. BankNifty alongside the heavyweight Banking stocks which enjoy a high weightage on the overall market lead today’s rally. In fact, it was a divided performance amongst the sectors with Metals and Energy underperforming. The short term trend of the index is UP and we reiterate the fact that one should maintain a bullish bias. The index will now try to take out the previous swing highs of 15,200 and 15,300. On the downside, immediate supports stay at (14,860-14,960).     

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