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Below Quote Daily Market Analysis 14 February 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets recovered strongly on Tuesday and gained nearly a percent. Initially, upbeat global cues triggered a firm start which further strengthened with buying in select heavyweights as the day progressed. Consequently, Nifty surpassed the hurdle at 17900 and finally settled around the day’s high. Meanwhile, a mixed trend was witnessed on the sectoral front wherein metal, FMCG, IT and banking posted decent gains while realty, auto and healthcare ended lower.

Indications are favorable for further recovery and we’re now eyeing 18,200 in Nifty. However, the move could be gradual citing restricted participation by select index heavyweights. Traders should align their positions accordingly and prefer index majors over others. 

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