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Below Quote Daily Market Analysis 4 October 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets recovered strongly after Monday’s slide and gained over 2%, tracking firm global cues.  The Nifty index opened gap up and gradually inched higher as the session progressed and finally settled around the day’s high to close at 17,274.30 levels. All sectoral indices participated in the move wherein metal, banking and IT were among the top gainers.  The broader indices too witnessed decent traction and gained in the range of 1.7-2.5%.

Markets are currently dancing to the global tunes and the rebound in the US markets has triggered this rebound. Going ahead, Nifty should hold the 17,200 mark to maintain the positive bias and inch towards the 17,400+ zone. We reiterate our view to focus more on stock selection and risk management citing excessive volatility. 

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