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Quote On Morning Market 06 March 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The trend reversal in Nifty led by banking and metals has more legs to go. When the market gets oversold, as happened in recent weeks, the bounce back triggered by short-covering can be sharp. This week may throw up some important triggers relating to US non-farm payroll data and takeaways from the Fed chief Powell’s views on the US economic outlook. Since the trends from the mother market US are crucial for global equity markets, investors have to watch out for these data. The rally in banking stocks may gather momentum taking cues from the GQG investment in four Adani stocks. The oversold IT stocks also have the potential to stage a mild rally. Oil & Gas and capital goods segments appear strong.

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