Daily Market Analysis : Market traded volatile on Friday but managed to end in the green amid mixed cues Say`s Ajit Mishra, Religare Broking Ltd
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Below the Daily Market Analysis 22 December 2023 by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd
Market traded volatile on Friday but managed to end in the green amid mixed cues. After the flat start, the Nifty oscillated sharply on both sides and finally settled at 21362.50 levels. All the key sectors, barring banking, traded in sync with the move wherein realty, IT and metal were among the top performers. The broader indices also extended gains and closed higher in the range of 0.7%-1.1%.
The last two days of the rebound in the index have eased pressure and it would be a healthy consolidation if Nifty spends some time around the current levels. We are seeing volatility across the sectors so traders should maintain extra caution in stock selection and overnight risk management. And, we feel it is prudent to stick with index majors over midcap and smallcap counters.
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