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Below Quote Daily Market Analysis 21 February 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets traded volatile in a narrow band and ended almost unchanged, taking a breather after the recent fall. After the flat start, the Nifty index oscillated between 17800-17925 levels and finally settled closer to the day’s low. Most sectoral indices traded under pressure wherein IT, realty and select banking counters were among the top losers. The broader indices also shed nearly half a percent each.

The recent price action shows indecisiveness among the participants amid mixed cues and the move is largely in sync with global peers. Amid all, it’s critical for Nifty to hold 17700 levels, to keep the recovery hopes alive. Meanwhile, we feel it’s prudent to restrict positions in the current scenario and wait for clarity. 

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