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Below Quote on Daily Market Outlook 03 July 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets edged higher in continuation to the prevailing trend and gained over half a percent.  Upbeat global cues triggered a firm start and rotational buying across heavyweights kept the tone positive till the end. Consequently, the Nifty index settled closer to the day’s high at 19,322.55 levels; up by 0.70%. Most of the sectoral indices traded in line with the benchmark wherein energy, FMCG and metal were among the top gainers. Meanwhile, the broader indices traded mixed wherein midcap ended flat but smallcap gained over a percent.
We may see a breather in Nifty after the recent surge and it would be healthy. The existence of a hurdle at the 19,350 level combined with overbought reading may prompt traders to book some profit. However, any intermediate dip should be considered as a buying opportunity so traders should keep their list of preferred stocks ready.

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