Daily Market Analysis : Markets began the week with modest gains, continuing the prevailing positive trend Says Mr. Ajit Mishra, Religare Broking Ltd
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Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd.
Markets began the week with modest gains, continuing the prevailing positive trend. After opening with a gap up, the Nifty traded within a narrow range throughout the day and closed at 23,560, up by 0.40%. Sectoral performance was mixed, with gains in Realty, private banks, and IT, while pharma, metal, and FMCG sectors lagged. The broader indices maintained their positive momentum, reaching new record highs.
We anticipate the prevailing trend to persist, with Nifty gradually moving towards the 24,000 level. Additionally, renewed strength in the banking index supports our bullish outlook. Therefore, we recommend maintaining a "buy on dips" strategy, focusing on stocks demonstrating higher relative strength.
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