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Below Quote Daily Market Analysis 18 November 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets traded volatile and ended marginally lower, in continuation to the prevailing consolidation phase. After the flat start, the Nifty index gradually inched lower as the session progressed however recovery in the final hours pared the losses significantly. It finally settled at 18307 levels; down by 0.2%. All the sectoral indices, barring PSU banking, traded in tandem and ended lower.

Markets are indicating the prevailing consolidation to continue and Nifty should decisively cross 18,450 levels to regain strength. Meanwhile, we reiterate our view to focus more on sector/stock selection citing restricted participation. Besides, we’re observing breakout failures across sectors so maintain strict risk management rules also in place.

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