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Below Quote Daily Market Analysis 26 July 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets edged higher and gained half a percent, taking a pause the recent slide. On the benchmark front, Nifty opened with an upside gap and traded  range bound till the end. Buying in select heavyweights from auto, energy, FMCG and capital goods space contributed maximum and helped in maintaining positive tone despite mixed global cues. Meanwhile, the broader indices too inched higher and ended in the green.

This bounce shows that bulls are not in mood to loosen their grip citing major support around 19300-19500 zone. However, any negative surprise from global front might result  in extended consolidation. Meanwhile, traders maintain their focus on sectors showing higher relative strength and preplan their exits as well.

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