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Below is the Daily Market Analysis 21 December 2021 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets witnessed a decent rebound and gained nearly a percent, taking a breather after the recent fall. The benchmark opened with an uptick and inched further higher however selling pressure in the latter half trimmed the gains. Consequently, the Nifty index settled around 16,770 levels; up 0.9%. Most of the sectoral indices ended higher wherein IT, metal and realty were among the top gainers. The broader indices also witnessed respite and gained over a percent each.

The updates on the new variant are keeping the choppiness high globally and we expect this trend to continue in the near future. Among the sectors, only the IT pack has been showing a steady uptrend while others are trading mixed. In case of a further rebound, Nifty would face a hurdle around the 17,000-17,150 zone. Participants should limit leveraged positions until we see some stability.

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