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Below Quote Daily Market Analysis 23 November 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets ended almost unchanged amid volatility, in continuation to the prevailing consolidation phase. The Nifty index opened with an uptick but it couldn’t hold the gains for long and oscillated in a range thereafter. It finally settled at 18,267.25; up by 0.13%. Meanwhile, mixed performance from the sectoral front kept the participants busy till the end.

Markets have been maintaining a positive tone amid the consolidation bias, thanks to rotational buying in index majors, especially from the banking pack. However, subdued participation from the broader front is still weighing on sentiment. Considering the scenario, we feel it’s prudent to limit positions and focus on sectors/stocks which are showing higher relative strength. Also, maintain strict risk management rules in place citing the possibility of a rise in volatility due to scheduled F&O expiry. 

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