Daily Market Analysis : Markets traded volatile in a range and ended almost unchanged, taking a breather after the recent surge Says Mr. Ajit Mishra, Religare Broking
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Below Quote Daily Market Analysis by Mr. Ajit Mishra, VP - Technical Research, Religare Broking Ltd.
Markets traded volatile in a range and ended almost unchanged, taking a breather after the recent surge. After the flat start, pressure in the IT majors pushed the Nifty lower however buying in select heavyweights especially from the banking pack trimmed all the losses and helped index to close flat. Apart from banking, realty and auto pack also performed well while IT, pharma and energy traded subdued.
Markets will react to results of two heavy weights viz. Infosys and HDFC Bank in early trades on Monday. Indications are in favor of the prevailing tone to continue so intermediate dips should be considered as a buying opportunity. We reiterate our preference for banking, financials and FMCG pack and recommend picking selectively from others.
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