Daily Market Analysis : Markets consolidated in a range and ended marginally higher Says Mr. Ajit Mishra, Religare Broking
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Below Quote Daily Market Analysis 05 September 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets consolidated in a range and ended marginally higher, taking a breather after the recent rebound. After the flat start, Nifty hovered in a narrow band till the end and finally settled at 19574.90. Meanwhile, key sectoral indices traded mixed wherein realty and pharma edged higher while banking and auto traded dull. However, the buoyancy continued in midcap and smallcap space for yet another session.
Nifty has reached closer to the resistance of 19,650 and needs participation from banking to surpass the same. We feel traders should maintain caution in stock selection citing overbought indications, especially in midcap and smallcap space.
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