Market Analysis & Pre-Budget Expectation 2021 by Ajit Mishra, Religare Broking
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Below are Views On Market Analysis & Pre-Budget Expectation 2021 by Ajit Mishra, Religare Broking
Markets traded under pressure for the fifth consecutive session and lost nearly a percent. It opened weak following feeble global cues and further drifted lower as the session progressed. Though it tried to recoup some of its losses in the second half but failed to make any decisive move. Consequently, the Nifty index ended lower by 1.1% at 13,818 levels. On the sector front, a mixed trend was witnessed as IT, Auto and Realty were the top losers whereas Consumer Durables, Oil & Gas and Banks ended in the green. Amid all, the broader indices outperformed the benchmark as both Midcap and Smallcap restricted the losses to 0.5% each.
Markets may see a breather on Friday after the recent slide but volatility would remain high. Nifty respected the support zone at 13,700 but sustainability above the same is critical for a decisive rebound. Considering the prevailing scenario and upcoming event i.e. Union Budget, we suggest continuing with hedged positions and preferring index majors over others.
Above views are of the author and not of the website kindly read disclaimer
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