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17-10-2023 04:46 PM | Source: Religare Broking Ltd
Daily Market Analysis : Markets edged higher after a muted session and gained nearly half a percent Says Mr. Ajit Mishra, Religare Broking
News By Tags | #Sensex #ExpertViews #MarketOutlook #Nifty #BankNifty #AjitMishra #ReligareBrokingLtd

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Below the Market Analysis 17 October 2023 by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd.

Markets edged higher after a muted session and gained nearly half a percent. Upbeat global cues triggered a firm start, followed by range bound move till the end. Consequently, Nifty settled at 19,811.45 level; up by 0.40%. Meanwhile, a mixed trend continued on the sectoral front wherein energy and financials were among the top gainers while auto and realty closed flat. Among the broader indices, the smallcap index almost retested its record high and gained nearly a percent.

We reiterate our mildly bullish view on Nifty and suggest continuing with a “buy on dips” approach till it manages to hold 19,600. On the other hand, we are seeing a rise in volatility across sectors with the beginning of earnings so traders should keep a check on stock selection and risk management aspects.


Above views are of the author and not of the website kindly read disclaimer

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