Daily Market Analysis : Markets took a pause after the recent rebound and ended almost unchanged Says Mr. Ajit Mishra, Religare Broking
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Below Quote Daily Market Analysis 07 October 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets took a pause after the recent rebound and ended almost unchanged, in absence of any major trigger. After a flat start, the Nifty index hovered in a narrow range and finally settled closer to the day’s high to close at 17,314.65 levels. Most sectoral indices traded in sync with the benchmark and ended flat. Meanwhile, stock-specific movement across sectors kept participants busy.
Global markets, especially the US, are still not offering indications for a sustained recovery so volatility is here to stay and participants should plan overnight positions accordingly. Meanwhile, on the index front, the tone would remain positive till the Nifty holds 17,100. We feel the prudent approach is to focus on top-performing stocks from across sectors and use intermediate dips to add them instead of chasing laggards, in hope of a rebound.
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