Daily Market Analysis : Markets began the week on a subdued note, following a volatile session on Friday, and ended with a loss of nearly half a percent Says Mr. Ajit Mishra, Religare Broking Ltd
Below the Quote on Daily Market Analysis by Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd
Markets began the week on a subdued note, following a volatile session on Friday, and ended with a loss of nearly half a percent. After an initial decline, the Nifty gradually drifted lower in the first half and then traded within a range for the rest of the session. Sectoral trends were mixed, with gains in realty and pharma offset by declines in metal, IT, and energy. Meanwhile, broader indices outperformed the benchmark, each advancing over half a percent.
The Nifty continues to face resistance around the 24,800 level, with intermittent spikes in the volatility index (India VIX) adding to the challenges for bulls. Despite this, we recommend maintaining a positive bias in the index, given the overall strength in banking and IT majors. Traders should look to capitalize on intermediate dips by adding quality stocks from outperforming sectors while carefully managing position sizes.
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