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Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd

Markets began the week on a strong note, extending Friday’s momentum to gain nearly 1.5%. Nifty opened with a gap-up, traded in a narrow range, and settled at 24,221.90. All major sectors contributed to the rally, with realty, banking, and energy leading the charge. Broader indices also mirrored the move, posting gains of 1.6%-2.1%. 

Over the last two sessions, Nifty has staged a robust recovery, retesting its 100-day EMA near 24,350. A decisive close above this level could pave the way for further upside toward the 24,550-24,750 zone. On the downside, the 23,850-24,000 range is expected to provide strong support in case of any pullback. Traders and investors are advised to focus on sectors showing relative strength, such as IT and Banking, while remaining selective in others. 

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