Daily Market Analysis : Markets edged marginally lower in a dull session, taking a breather after the recent rebound Says Mr. Ajit Mishra, Religare Broking
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Below the Market Analysis 31 October 2023 by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd
Markets edged marginally lower in a dull session, taking a breather after the recent rebound. After the initial uptick, Nifty hovered in a narrow band till the end and finally settled around the day’s low at 19,085 levels. Most sectors traded in sync with the move wherein auto, pharma and banking were the top losers. Meanwhile, resilience on the broader front kept the traders busy.
We reiterate our negative view on the index however a mixed trend on the sectoral front is offering opportunities on both sides. Traders should align trades accordingly, with focus on overnight risk management.
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