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Below is the Daily Market Analysis 27 June 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets started the week on a strong note and gained nearly a percent. Upbeat global cues triggered a firm start in the benchmark, followed by range-bound move till the end. Finally, the Nifty index settled at 15832; up by 0.85%. Meanwhile, movement on the sectoral front kept the participants busy wherein capital goods, IT and metals were among the top gainers. The broader markets too participated in the move wherein midcap and smallcap ended higher by 0.9% and 2% respectively. 

We feel global cues will continue to dictate the trend. Besides, domestic factors like the upcoming GST council meet will also be in focus. We reiterate our positive yet cautious view on markets citing the hurdle at 15900 levels. A decisive breakout could further fuel the recovery to the 16200 zone in Nifty else correction would resume. Amid all, we’ve been seeing select sectors/themes doing well so the focus should be more on identifying the stocks from such themes while keeping a check on leveraged positions.

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