Universal Bonds 08-06-2020 : 12:02 PM


* For a major part of the day, the index consolidated with 10100 acting as a midpoint. Buying in banking and metal led the index to end positive with a decent gain of 1.1%. We believe a consolidation move will take place before crossing the 10200-10300 hurdle

* On Friday, in the early hours, the Bank Nifty faced difficulty in surpassing its highest Call base of 21000. This led to a reversal during the day. However, post SBI results. heavy buying was seen across the banking space, which helped the Bank Nifty to end above 21000, up 4%