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Below Quote Daily Market Analysis 05 April 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets continue to edge higher for the fourth successive session and gained nearly a percent. After the flat start, the Nifty index gradually inched higher as the day progressed and settled closer to the day’s high at 17,557.05 levels.  Most sectors were aligned with the trend wherein FMCG, IT and financials were the top gainers. Meanwhile, the broader indices traded mixed where recovery in smallcap pack aided healthy market breadth.

We may see some consolidation after the recent surge as we’ve almost reached closer to the immediate target of 17,600 in Nifty. Now, the outcome of the MPC meet will be in focus for cues. Besides, the scheduled weekly expiry would further add to the volatility. Amid all, we reiterate our bullish view and suggest continuing with a “buy on dips” approach. 

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