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Below Quote Daily Market Analysis 12 June 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets traded dull but managed to end marginally in the green, thanks to firm global cues. After the initial uptick, the Nifty oscillated in a narrow range till the end and finally closed at 18,601.50 levels. Meanwhile, the movement on the sectoral front kept the traders busy wherein IT and realty posted decent gains while banking and financials remained under pressure. The broader indices continued their outperformance and gained in the range of 0.60%-0.90%.  

It is a normal pause after the recent dip and participants shouldn’t read much into it. We feel the performance of the banking index, which is currently trading closer to the crucial support zone of short term moving average i.e. 20 EMA, would play a crucial role in the next directional move. Meanwhile, we reiterate our view to focus more on stock selection and risk management.

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