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Below Quote Daily Market Analysis 28 February 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets extended losses for yet another session and settled with a cut of nearly half a percent. The tone was positive initially but selling resumed as the session progressed. Consequently, Nifty finally settled at 17303.95 level. On the sectoral front, most sectors traded under pressure however selective buying in auto, and realty pack combined with rebound on broader front kept the the traders busy.

Markets are not seeing respite despite the oversold positions however the pace of decline has subsided in the recent sessions. We expect Nifty to respect 17100-17200 zone thus possibility of consolidation is high. Meanwhile, focus on stock-specific opportunities based on sectoral trend and limit leveraged positions.

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