Daily Market Analysis : After the flat start, Nifty remained in a narrow range till the end and finally settled around the day`s low at 19,401.20 level Says Mr. Ajit Mishra, Religare Broking
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Below the Market Analysis 09 November 2023 by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd
Markets remained range bound for the third day in a row and ended marginally lower. After the flat start, Nifty remained in a narrow range till the end and finally settled around the day’s low at 19,401.20 level. A mixed trend continued on the sectoral front wherein realty and auto posted decent gains while FMCG and oil&gas ended in the red. Amid all, resilience continued on the broader front and both midcap and smallcap index closed unchanged.
The recent pause is the index is largely in sync with the global markets, especially the US, and needs a decisive break from the 19,200-19,500 zone for the next move. Meanwhile, stay focused on identifying the sectors and themes that are performing well and utilize intermediate dips to add quality stocks.
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