Weekly Note : Nifty should hold 17,700 to extend the recovery and inch towards the 18,200 -18,350 zone Says Mr. Ajit Mishra, Religare Broking
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/02/7693aedb113548d572a5b52f37370577.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
Weekly Note 18 February 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets continue to trade volatile amid mixed cues and ended with a gain of nearly half a percent.After the initial downtick, Nifty regained some strength in the middle, tracking favorable global cues and buying in select heavyweights. However, the profit taking in the final sessions trimmed the gains and it finally settled at 17,944.20 levels. On the sectoral front, buoyancy in the IT and energy heavyweights kept the tone positive while banking and financials were under pressure. Meanwhile,the broader indices underperformed the benchmark and lost over a percent each.
With all the major events behind us, the performance of the global markets, especially the US, will
be in focus for cues. Besides, crude and rupee movements will continue to offer indications in between.
We do not expect any surprises from the global front however intermediate consolidation/profit taking in the US markets may continue to trigger volatility in between. The recent underperformance of the banking and financial pack may continue so the participation of other sectors like IT, energy, FMCG and auto could play a critical role ahead. On the index front, Nifty should hold 17,700 to extend the recovery and inch towards the 18,200 -18,350 zone. Meanwhile, we recommend participants to stay selective and prefer sectors that are showing strength and choose index majors over others.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Ministryfinance010324.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/AstraZeneca04.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Gv_Manali_1.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Gulf Oil Lubricants.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Gv_Hotels.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Ajmera Realty.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Pharma Sector 56.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/MoU Signing (1) 23.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...
![Weekly market outlook : The market is eagerly awaiting data on inflation and industrial production to provide further guidance Says Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/5f1fa5f12be5ac87ff9258ea3909f0f8.jpg)
![Nifty registers best week in 2 months after rising for 6 consecutive sessions](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/95f11bf3e1fc515ff0aed747520314dc.jpg)
![Market Quote : Benchmark Indices ended the week today just a few percentage away from record highs Says S Ranganathan, LKP securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/f33c3d1dad571464e55a94475ae32892.jpg)
More News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/03/0afbc8a5721cf8a812803b410bdd1107.jpg)
Market Wrap Up :The Indian equity market had a lackluster day of trade amid the absence of b...
![Daily Market Commentary : Auto sector will be in focus as companies would announce their monthly sales numbers - Says Mr. Siddhartha Khemka, Motilal Oswal](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/07/02ee4d73ff4d4ae938018c49b25556c1.jpg)
![Indian equity markets witness sharp correction on the back of rising worries of omicron By Mr. Parth Nyati, Tradingo](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/12/a03afb3ebe9b0967f3a22ad90f705bc0.jpg)
![Market Quote : Domestic benchmark indices closed flat after a positive session Says Mr. Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/05/a3a913632cdedb43f3dfe2adca9c79fb.jpg)