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

Markets remained range bound and ended almost unchanged, in continuation to Tuesday’s move.  After the flat start, the Nifty oscillated in a narrow band and finally settled around the day’s high at 19398.50 levels. Meanwhile, a mixed trend across sectors kept the participants busy wherein FMCG and auto majors were in the limelight. Besides, a modest up move in the midcap and smallcap space added to the trading opportunities.

The last two days of move in the index shows that bulls are not in the mood to loosen their grip and we have more legs to this up move. As we are seeing rotational buying across sectors, traders should continue with a “buy on dips” approach while maintaining focus on stock selection. 

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