Weekly Market Quote : Markets experienced a dip after rising for three consecutive weeks and lost over a percent Says Mr. Ajit Mishra, Religare Broking Ltd
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/04/89290311a28f25982aca9404444eeffd.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Quote on Weekly Market Outlook 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets experienced a dip after rising for three consecutive weeks and lost over a percent. The tone was subdued from the beginning citing pressure in the IT major, Infosys, post numbers and that further deteriorated with a decline in other IT heavyweights as the week progressed. However, resilience in other key sectors like banking, energy and auto combined with a rebound in the defensive pack viz. pharma and FMCG eased some pressure. Amid all, Nifty managed to hold 17,600 and settled at 17,624.05; down by 1.14%. Meanwhile, the broader indices outperformed the benchmark and ended in the green
The focus would remain on earnings for cues in the coming week, in absence of any major event. First, participants will react to the Reliance and ICICI Bank’s numbers. In the following sessions, IndusInd Bank, Bajaj-Auto, Bajaj Finance, Maruti, Hindunilvr, Axis Bank, ACC, Wipro, Ultracemco and Kotak Bank will announce their number during the week along with several others. Besides, the scheduled monthly expiry of the April month derivatives contract will keep the participants busy.
It is a healthy correction so far and Nifty should hold the 17,400-17,500 zone to the stage next leg of recovery else consolidation would set in again. On the higher side, the 17,850-18,100+ zone would act as a strong hurdle. Meanwhile, the participant should maintain stock-specific approach with a focus on risk management. We reiterate our preference for banking, financials and FMCG pack for long trades and suggest avoiding IT until we see some sign of reversal.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Manhar Garegrat_po.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dilip Chenoy, Chairman, Bharat Web3 Association.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Titan Company_.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Indian Statergy_03july.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/coal37.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/ashwini37.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Shrikant Chouhan.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/pharma.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/AutoSec27Feb.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Gas_11Feb.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/cc796169e4f7c012914c95f4a8efe430.jpg)
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
![Daily Market Analysis : Markets traded volatile on the monthly expiry day and lost nearly half a percent Says Mr. Ajit Mishra, Religare Broking](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/08/56522ea48c2bf21cf1ad02b34c5a3647.jpg)
![Daily Market Analysis : Traders should align their positions accordingly and focus more on risk management Says Mr. Ajit Mishra, Religare Broking](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/08/77a47a6a80229d31900a9c1f17e663bf.jpg)
![Market Analysis : Markets traded dull and ended marginally lower, taking a pause after the recent bounce says Mr. Ajit Mishra, Religare Broking Ltd.](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/08/7881cac5b8e0da65ed9e6e523bdf1fc6.jpg)