IGI Logo

Below Quote Daily Market Analysis 09 February 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets traded volatile and ended marginally in the green amid mixed cues. Initially, weak global cues were weighing on sentiment however buying in select index majors helped the Nifty to pare losses and end around the day’s high.  Meanwhile, mixed trend on the sectoral front kept the traders busy wherein IT and financials ended higher and metal, realty and auto edged lower. The broader indices traded in sync with the benchmark and ended flat.  

The bulls are trying hard to surpass the hurdle at 17900 in Nifty but mixed trend among the index majors delaying the breakout. Besides, intermediate pause or profit taking on the global front is further adding to their worries every now and then. Meanwhile, participants should restrict their focus on the select heavyweights and midcap counters which are attracting consistent buying on dips.

Above views are of the author and not of the website kindly read disclaimer