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Market Quote : Markets traded lackluster and ended almost on a flat note Says Mr. Ajit Mishra, Religare Broking
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Quote on Market 11 July 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets traded lackluster and ended almost on a flat note, taking a breather after the recent surge. Initially, the benchmark opened lower, tracking mixed global sentiment and a sharp cut in the IT majors post TCS numbers however outperformance of the banking pack capped the downside. And, buying in auto, metal and oil&gas space further trimmed the losses as the day progressed. Eventually, the Nifty settled almost unchanged at 16,216 levels. Meanwhile, buoyancy on the broader front kept the traders busy.
Amid the mixed global sentiment, the focus should be on the upcoming macroeconomic data and earnings for cues. We reiterate our positive view and expect Nifty to test 16,500 soon. Participants should align their positions accordingly and continue with the “buy on dips” approach till the Nifty holds 15,900 levels.
Above views are of the author and not of the website kindly read disclaimer
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