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Below Quote Daily Market Analysis 04 January 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking 

Markets traded under pressure and lost over a percent amid mixed cues. After the flat start, the Nifty gradually inched lower as the day progressed and finally settled around the day’s low to close at 18,042 levels. The decline was widespread wherein realty, metal and energy were among the top losers. The broader indices too traded in tandem and ended with a cut of over a percent each.

This decline has engulfed the gains of the last four sessions in Nifty and selling pressure in the banking index, which was acting as a savior so far, has further deteriorated the mood. And, we feel the pressure may increase below 18000 levels in Nifty. Keeping in mind the scenario, it is prudent to limit leveraged positions and wait for clarity. 

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