Daily Market Analysis : Markets remained range bound but finally ended around the day`s high Says Mr. Ajit Mishra, Religare Broking
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Below Quote Daily Market Analysis 19 July 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets remained range bound but finally ended around the day’s high, in continuation of the prevailing uptrend. Meanwhile, a mixed trend on the sectoral front kept the traders busy wherein energy, pharma and banking posted modest gains while auto and IT traded subdued. Besides, the broader indices showed resilience and gained over half a percent each.
The supportive US markets combined with noticeable buying interest across sectors are helping the index to inch higher with every passing day. We feel the focus should be more on stock selection now citing overbought reading in the index, which may result in consolidation ahead.
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