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Below Quote Daily Market Analysis 6 February 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets started the week on a subdued note and lost nearly half a percent, tracking feeble global cues. After the initial dip, the Nifty index hovered in a narrow range till the end and finally settled at 17764.60 levels. Meanwhile, a mixed trend on the sectoral front and selective buying on the broader front kept the participants busy.

The recent price action on the benchmark front indicates uncertainty among the participants and that might continue in the near term.  Traders should thus maintain their focus more on identifying opportunities in the sectors that are showing resilience. However, it’s easier said than done as we’re seeing restricted participation. Also, managing overnight risk is equally important citing the prevailing volatile scenario. 

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